BCREA Welcomes Exemptions to Bill 45

The British Columbia Real Estate Association welcomes the Government of British Columbia’s inclusion of exemptions from the speculation and vacancy tax proposed as Bill 45 today, Tuesday, October 16, 2018. Some of the exemptions directly address concerns BCREA brought to the Province’s attention through its advocacy work. 

The Bill allows for exemptions for British Columbians going through traumatic life events such as illness and divorces or separations. It also allows for exemptions for owners of properties that are being developed or undergoing renovations. 

It also exempts strata units from a vacancy tax for 2018 and 2019, where strata restrictions prohibit rentals. Further clarity is needed on this exemption and other implications. 

BCREA, its 11 regional real estate boards and the 23,000 REALTORS® they represent look forward to providing the Province with REALTOR® insight on the implementation of Bill 45 to ensure that the best interests of BC homeowners are served. 

Read the Province’s news release here. Learn more about the speculation and vacancy tax here.

Provided by: BCREA

Coquitlam News

BC Housing Markets Heat Up as Summer Ends
The British Columbia Real Estate Association (BCREA) reports that a total of 10,172 residential unit sales...
More...
NEW PRICE: 312 501 Cochrane Ave., Coquitlam, Coquitlam West
2 Level Home with 3 Bedrooms Bright & Open Location Can’t be Beat NEW PRICE: $668,000 SMOKING...
More...
Home sale and listing activity continues to increase in August
Home buyers and sellers remained active across Metro Vancouver* in August, with home sale and new listing...
More...
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.