B.C. Finance Minister Selina Robinson presents bill to delay B.C.’s budget as late as April 30, and allow further spending before that, B.C. legislature, Dec. 8, 2020. (Hansard TV)

B.C. Finance Minister Selina Robinson presents bill to delay B.C.’s budget as late as April 30, and allow further spending before that, B.C. legislature, Dec. 8, 2020. (Hansard TV)

B.C. to remove speculation ‘air tax’ passed on to commercial tenants

Tax applies to empty space above property because it’s vacant

The B.C. government is offering to remove the speculation and vacancy tax being assessed on the empty space above urban properties that is being passed on to commercial tenants in the actual buildings on the property.

The NDP government has been criticized for assessing the speculation tax on unbuilt structures based on the zoning of the property allowing higher buildings, which some landlords are passing on to commercial tenants. Finance Minister Selina Robinson announced Thursday that the province will waive one year of what has become known as the “air tax” for a small number of property owners that meet a list of conditions and apply for remission.

“We don’t believe that tenants should have these costs passed on to them by landlords,” Robinson said April 29. “We will temporarily remove the speculation and vacancy tax liability for 2020 for property owners that meet certain conditions. Both property owners and tenants can now apply for the remission to ensure the people we are trying to help, the tenants, don’t have to wait for the owner to apply.”

Robinson told reporters at the B.C. legislature her ministry is working on a permanent fix to stop property owners from rezoning the space above their commercial properties to residential, which lowers the property tax, but not building the units allowed by the zoning.

The speculation and vacancy tax has been added to property tax in these situations, sparking protests from tenants who say the tax is being passed on to their lease payments. Robinson says there are fewer than 100 landlords who are passing on the costs.

Tenants or landlords seeking an exemption for the 2020 tax are told to contact the finance ministry at 1-833-554-2323 to apply. It is for leases entered into before April 29, 2021, for a property that contains vacant residential space along with a class five or six commercial tenant.

RELATED: NDP defends ‘air tax’ on unbuilt properties, slow business aid

RELATED: Speculation tax doesn’t cool B.C.’s hot housing market


@tomfletcherbc
tfletcher@blackpress.ca

Like us on Facebook and follow us on Twitter.

BC politicsspeculation tax

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Aldergrove Community Secondary. (Aldergrove Star files)
Noel Booth, Douglas Park, RE Mountain, and Aldergrove Secondary see positive COVID tests

As of Monday, May 10, 18 schools are currently on the Fraser Health exposure list

Langley’s Madison Sweeney a 5’8” forward who began her career playing for Walnut Grove Secondary, has signed with the University of the Fraser Valley (UFV) Cascades women’s soccer team. (Special to Langley Advance Times)
Langley’s Madison Sweeney signs with UFV Cascades soccer team

UFV ‘checks all the boxes’ for former Walnut Grove player

Langley is home to a wide range of outstanding athletes, ranging from cycling champion Svein Tuft to MMA fighter Tristan Connelly and figure skating legend Karen Magnussen (files)
Making a list of Langley’s outstanding athletes

Website organizer is looking for suggestions

On hand for the presentation of a cheque to the Langley Food Bank was Jim Calamunce, executive director of the food bank (L), Langley City councillor Rudy Storteboom (centre) and Mike Partridge, manager of the South Langley IGA. (R) (Special to Langley Advance Times)
Shoppers at Langley IGA stores donate $10K to food bank

Customers showed ‘incredible generosity’ says store spokesperson

A bullet hole is seen in the windshield of an RCMP vehicle approximately 4 km from Vancouver International Airport after a one person was killed during a shooting outside the international departures terminal at the airport, in Richmond, B.C., Sunday, May 9, 2021. THE CANADIAN PRESS/Darryl Dyck
Homicide team IDs man in fatal YVR shooting as police grapple with spate of gang violence

Man, 20, charged in separate fatal shooting Burnaby over the weekend

Nurse Gurinder Rai, left, administers the Moderna COVID-19 vaccine to Maria Yule at a Fraser Health drive-thru vaccination site, in Coquitlam, B.C., on Wednesday, May 5, 2021. The site is open for vaccinations 11 hours per day to those who have pre-booked an appointment. THE CANADIAN PRESS/Darryl Dyck
COVID vaccine bookings to open for adults 40+, or 18+ in hotspots, across B.C.

Only people who have registered will get their alert to book

Dr. Victoria Lee, CEO of Fraser Health, hosts an update on efforts to contain B.C.’s COVID-19 transmission in Surrey and the Fraser Valley and protect hospitals in the Lower Mainland, May 6, 2021. (B.C. government video)
B.C.’s COVID-19 infection rate slowing, 20 more people die

Deaths include two people in their 40s, two in their 50s

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

The Canadian Forces Snowbirds are in the Comox Valley for their annual spring training. Photo by Erin Haluschak
Suspected bird strike on Snowbirds plane during training in B.C.

Pilot followed protocols and landed the aircraft on the ground without any problems

BCIT. (Wikimedia Commons)
BCIT apologizes after employee’s ‘offensive and hurtful’ email leaked to Métis Nation

BCIT says employee’s conduct has been investigated and addressed

An adult male yellow-breasted chat is shown in this undatd photograph on lands protected in collaboration between the En’owkin Centre and Penticton Indian Band with support through ECCC. The rescue from near extinction for a little yellow bird hinges on the wild rose in British Columbia’s Okanagan Valley, a researcher says. THE CANADIAN PRESS/HO, A. Michael Bezener/ En’owkin Centre 2020 *MANDATORY CREDIT*
Rare yellow birds need wild roses to survive in British Columbia: researcher

The importance of local wild roses emerged over a nearly 20-year experiment

RCMP officers search around rows of luggage carts as screens block off an area of the sidewalk after a shooting outside the international departures terminal at Vancouver International Airport, in Richmond, B.C., Sunday, May 9, 2021. THE CANADIAN PRESS/Darryl Dyck
Police say gang conflict in Metro Vancouver may be behind shooting death at airport

Police said this generation of gangsters is taking things to new level and have no regard for community safety

Most Read