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The central reference for BC residential real estate

58 rules, each with the government source it came from and the date a person last checked it.

Tax

BC and federal tax rules that affect residential real estate

  • BC Property Transfer Tax brackets

    Effective February 21, 2018 · verified November 4, 2026

    Marginal-rate brackets for the general Property Transfer Tax payable on title transfers in British Columbia. The 1%/2%/3% lower brackets apply to all property classes; the 5% top-bracket rate (above $3M) applies to residential-class property only.

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    bc.ptt.brackets v2 · re-verify by Feb 5, 2027

    ptt, bc, closing-cost, residential

    • February 17, 2016 to February 21, 2018 · Budget 2016 added a third rate of 3% on the portion above $2 million; 1% on the first $200,000 and 2% up to $2 million carried on. Budget 2018 added a further 2% on the residential portion above $3 million, for 5% in total.

  • BC First Time Home Buyer PTT exemption

    Effective April 1, 2024 · verified November 6, 2026

    Effective April 1, 2024, the First Time Home Buyers' exemption is available for a home with a fair market value (FMV) at or under $835,000. The exemption equals the property transfer tax on the first $500,000 of FMV — so a home at or under $500,000 pays no general PTT, and a home from $500,000 to $835,000 has $8,000 of PTT removed (the PTT on that first $500,000).

    From $835,000 to $860,000 the exemption phases out linearly to zero; there is no exemption at or above $860,000.

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    bc.ptt.fthb_exemption v4 · re-verify by Feb 5, 2027

    ptt, fthb, first-time-buyer, bc, exemption

    • February 22, 2017 to April 1, 2024 · Pre-April 2024 thresholds. The 2024 budget materially raised the full exemption cap and introduced a flat $8,000 reduction band.

  • BC Newly Built Home PTT exemption

    Effective April 1, 2024 · verified November 4, 2026

    Full PTT exemption on newly constructed homes with FMV at or under $1,100,000 (raised April 1, 2024). Linear phase-out from $1,100,000 to $1,150,000. No exemption above $1,150,000. Buyer must be a Canadian citizen or permanent resident, will use as principal residence, and meet other Section 12.02 requirements.

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    bc.ptt.newly_built_exemption v2 · re-verify by Feb 5, 2027

    ptt, newly-built, bc, exemption

    • February 17, 2016 to April 1, 2024 · Pre-April 2024 thresholds.

  • BC Foreign Buyer Additional Property Transfer Tax

    Effective February 21, 2018 · verified November 6, 2026

    20% additional PTT in specified BC areas (Metro Vancouver, Capital Regional, Fraser Valley, Nanaimo Regional, Central Okanagan) on residential property purchased by a foreign national, foreign corporation, or taxable trustee. Stacks on top of the general PTT.

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    bc.ptt.foreign_buyer_additional v1 · re-verify by Feb 5, 2027

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    • August 2, 2016 to February 21, 2018 · Introduced at 15% covering Metro Vancouver only. Raised to 20% and widened to five regional districts on 2018-02-21.

  • BC Home Flipping Tax

    Effective January 1, 2025 · verified November 5, 2026

    Provincial tax on profit from residential property sales. 20% if held less than 365 days; linear phase-out to 0% from days 366 to 729; no flipping tax after 730 days. Owner-occupiers can deduct up to $20,000 if held ≥365 days as principal residence. In addition to standard capital gains and federal anti-flipping rule.

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    bc.flipping_tax v1 · re-verify by Feb 5, 2027

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  • Federal anti-flipping rule (deemed business income)

    Effective January 1, 2023 · verified November 6, 2026

    Sales of residential property held less than 365 consecutive days are deemed business income (100% inclusion rate; no Principal Residence Exemption available) unless a qualifying life-event exception applies (marriage breakdown, death, work relocation ≥40km, etc.). Effective for dispositions on/after January 1, 2023.

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    ca.anti_flipping_rule v2 · re-verify by Feb 5, 2027

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  • Federal capital gains inclusion rate

    Effective October 18, 2000 · verified November 4, 2026

    50% inclusion rate. The proposal to raise the inclusion rate to 66.67% on gains over $250,000 was CANCELLED on March 21, 2025; the rate remains 50% for all dispositions.

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    ca.capital_gains.inclusion_rate v2 · re-verify by Feb 5, 2027

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  • BC Speculation and Vacancy Tax rates and credit (2026 tax year)

    Effective January 1, 2026 · verified November 6, 2026

    BC Speculation and Vacancy Tax rates and the tax credit that offsets them. For the 2019–2025 tax years the rates were 0.5% for Canadian citizens / permanent residents and 2.0% for foreign owners and untaxed worldwide earners (which includes satellite families). Budget 2025 raised both effective for the 2026 tax year: the Canadian rate doubled to 1.0% and the foreign / untaxed-worldwide-earner rate rose by half to 3.0%.

    Budget 2026 raises the foreign / untaxed-worldwide-earner rate again to 4.0% effective for the 2027 tax year. The tax is charged on the property's full assessed value — there is no exempt band beneath it. A separate non-refundable tax credit is then subtracted: for BC residents who are Canadian citizens or permanent residents and are not untaxed worldwide earners, Budget 2025 raised the maximum from $2,000 to $4,000 for 2026 and later years.

    The credit is prorated by the owner's percentage interest in the property (a 25% owner receives 25% of the maximum), requires a filed declaration, and cannot be carried forward to another year or transferred to a spouse. Because $4,000 is exactly 1% of $400,000, a sole BC-resident owner's tax payable reaches zero at an assessed value of $400,000 or less — an artefact of the credit, not an exemption threshold.

    Foreign owners and untaxed worldwide earners do not receive this credit. Declarations are due March 31 of the year following the tax year; where no declaration is filed, the owner is assessed at the maximum rate and forfeits the credit. Payment is a separate and later deadline: the tax is due on the first business day in July of that same year (July 2, 2026 for the 2025 tax year; July 2, 2027 for the 2026 tax year, July 1 being Canada Day in both).

    Note that a small set of entities never declare at all — Indigenous Nations and their corporations, registered charities, housing co-ops, municipalities and regional districts, other public bodies, crown corporations, and corporations designated as agents of government with their wholly owned subsidiaries — so the "every owner must declare" rule holds for individuals but is not universal.

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    bc.svt.rates_2026 v4 · re-verify by Jan 31, 2027

    bc, svt, speculation, vacancy, tax-credit

    • January 1, 2019 to January 1, 2026 · 0.5% / 2.0% rates and a $2,000 BC-resident credit for the 2019-2025 tax years.

  • City of Vancouver Empty Homes Tax rate

    Effective January 1, 2021 · verified August 8, 2026

    The City of Vancouver Empty Homes Tax — also called the Vacancy Tax, and imposed under Vacancy Tax By-law No. 11674 — is a municipal tax on residential property left empty, charged on the property's assessed taxable value for the reference year. It began with the 2017 reference year. The rate is 3% and has been since the 2021 reference year (1% for 2017–2019, 1.25% for 2020).

    It is separate from and additional to the provincial Speculation and Vacancy Tax (see bc.svt.rates_2026), so a vacant home inside Vancouver is exposed to both: 4% combined for a Canadian citizen or permanent resident in the 2026 tax year, 6% for a foreign owner or untaxed worldwide earner. Vancouver runs its own cycle, and every Vancouver homeowner declares whether or not any tax is owed.

    For the 2025 reference year the declaration was due February 3, 2026, payment April 16, 2026, and late declarations supported by acceptable evidence July 3, 2026 — so the municipal declaration lands roughly two months before the provincial March 31 deadline and payment roughly three months before the provincial July date. Only one declaration is required per property each year, rather than one per owner, and a property with no declaration on file is deemed vacant.

    The provincial resident tax credit does not touch the municipal tax.

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    local.vancouver.eht_rate v2 · re-verify by Jan 15, 2027

    vancouver, empty-homes-tax, municipal, vacancy

    • January 1, 2020 to January 1, 2021 · 1.25% for the 2020 reference year; 1% for 2017-2019.

  • FHSA annual + lifetime contribution room

    Effective April 1, 2023 · verified November 6, 2026

    First Home Savings Account (FHSA) — federal tax-deferred savings vehicle for first-time home buyers. $8,000 annual contribution room (carry-forward up to one year unused), $40,000 lifetime maximum. Contributions are tax-deductible (like an RRSP); qualifying withdrawals are tax-free (like a TFSA). The account must be closed by December 31 of the year the earliest of these occurs: the 15th anniversary of opening your first FHSA, the year you turn 71, or the year after your first qualifying withdrawal.

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    cra.fhsa.contribution_room v1 · re-verify by Feb 5, 2027

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  • Capital gains on real estate × Principal Residence Exemption (PRE)

    Effective January 1, 2016 · verified August 2, 2026

    How federal capital-gains rules interact with the Principal Residence Exemption (PRE) for BC sellers. Federal capital-gains inclusion: 50% of any taxable capital gain is included in income — the proposed 66.67% inclusion-rate increase on gains above $250,000 was CANCELLED by the federal government on March 21, 2025, so the inclusion rate is 50% across the board for the foreseeable future (see fact ca.capital_gains.inclusion_rate).

    PRE: a Canadian-resident individual can claim the PRE on a property that is "ordinarily inhabited" as a principal residence for every year designated, fully exempting the otherwise-taxable capital gain attributable to those designated years. Critical detail BC sellers underweight: only ONE property per family unit per year can be designated, so cottage/investment owners must compute the PRE allocation across properties.

    The "+1 rule" (one extra year tacked onto the designation) lets a seller cover the year of acquisition of a replacement property. The step most BC sellers miss: the exemption does not apply automatically at sale. Since the 2016 reporting changes, every disposition of a principal residence MUST be reported on Schedule 3 of the T1 return, with the PRE designation made via Form T2091(IND).

    Failing to file is a CRA penalty trigger ($100/month, max $8,000) and can cost the exemption retroactively. For multiple-property owners, also consider: federal anti-flipping rule (≥365-day hold to avoid 100% deemed business income; see ca.anti_flipping_rule) and BC Home Flipping Tax (≥730-day hold to avoid all provincial tax; see bc.flipping_tax).

    ID, versions and tags

    bc.tax.capital_gains_pre_interaction v1 · re-verify by Feb 5, 2027

    capital-gains, pre, principal-residence, federal, cra, bc

  • BC presale-condo assignment tax treatment

    Effective May 7, 2022 · verified November 5, 2026

    How CRA and BC treat the assignment (sale) of a presale-condo purchase contract before completion. Three tax overlays apply: (1) GST: for an assignment agreement entered into after May 6, 2022, the assignment of a purchase agreement for a new single unit residential complex or residential condominium unit is a taxable supply (Excise Tax Act s. 192.1), and the assignor collects 5% GST and remits it.

    The taxable amount is the consideration for the assignment less any part the assignment agreement states in writing is the reimbursement of a deposit paid under the purchase agreement; with no such statement, the whole amount is taxed. (CRA info sheet GI-120 still shows the pre-May 2022 rule, under which the deposit was included; Notice 323 and s. 192.1 replace it.)

    (2) Income tax: a gain on a right to acquire a housing unit held under 365 consecutive days is deemed business income, with no capital gain and no principal residence exemption, unless a listed life event applies (CRA, flipped property). Beyond 365 days, whether the profit is business income or a capital gain depends on the facts, including whether the assignor intended to occupy the home.

    (3) BC Home Flipping Tax: it applies to the profit on disposing of a presale contract held under 730 days. The clock runs from the date the contract was entered into and the deposit paid; the rate is 20% to day 365 and falls to zero at day 730; the primary residence deduction is not available on a presale contract.

    Net taxable income is proceeds less the cost to acquire (BC Government, pre-sale contracts). The Province also says the profit is reported on the income tax return and checked against the Condo and Strata Assignment Integrity Register; the final purchaser pays property transfer tax on the total amount paid, including upgrades.

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    bc.presale.assignment_tax_treatment v1 · re-verify by Feb 5, 2027

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  • Federal GST New Housing Rebate

    Effective January 1, 1991 · verified November 6, 2026

    A federal GST/HST rebate available to buyers of new or substantially-renovated owner-occupied housing. In BC (a GST-only province), the rebate is calculated against the 5% federal GST. Full rebate is 36% of the GST paid for new homes priced up to $350,000; the rebate phases out linearly between $350,000 and $450,000 (computed under the formula in s. 254(2) of the Excise Tax Act).

    New homes priced at or above $450,000 receive ZERO federal GST New Housing Rebate. Rebate forms: GST190 (new home from a builder), GST191 (owner-built home). The 1991-set $350,000 / $450,000 thresholds have NOT been indexed to inflation; nearly every new home in Metro Vancouver and the Fraser Valley sells above the upper threshold and therefore receives no rebate.

    A separate "First-Time Home Buyers' GST Rebate" was enacted by Bill C-4 (Royal Assent March 12, 2026): for a qualifying first-time buyer it removes the full 5% GST on a new home priced up to $1,000,000 and gives a reduced rebate on new homes from $1,000,000 to $1,500,000, to a maximum of $50,000.

    It applies to purchase agreements entered on or after March 20, 2025 and before 2031, construction must be substantially completed before 2036, and the buyer must be the first to occupy the home. The first-time rebate is a top-up: where both apply, it adds to the older rebate. A first-time buyer is at least 18, a Canadian citizen or permanent resident, and has not lived in a home that they or their spouse or common-law partner owned in the calendar year of the ownership transfer or the previous four calendar years.

    The claim is not automatic: on a home bought from a builder the builder can pay or credit it on Form GST190, otherwise the buyer files within 2 years of the date ownership transferred. Keep the records for 6 years. (Canada Revenue Agency pages read 2026-11-04.)

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    ca.gst.new_housing_rebate v2 · re-verify by Feb 5, 2027

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  • Federal GST purpose-built rental housing rebate

    Effective September 14, 2023 · verified November 4, 2026

    A rebate of 100% of the GST (or federal part of the HST) paid on purpose-built rental housing, with no price limit. It sits inside the GST/HST new residential rental property rebate (claimed by the landlord), whose ordinary version needs a unit worth under $450,000. To qualify the building must have at least 4 residential units that each have a private kitchen, bath and living area, or 10 or more residential units, and at least 90% of the units must be held for long-term residential rental.

    Construction must begin after September 13, 2023 and before 2031, and be substantially completed before 2036. It is not available for condominium units, single-unit housing, duplexes, triplexes, or housing on leased land or in a residential trailer park. (Canada Revenue Agency page read 2026-11-04.)

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    ca.gst.purpose_built_rental_rebate v1 · re-verify by May 4, 2027

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  • BC Home Owner Grant

    Effective January 1, 2026 · verified November 6, 2026

    An annual reduction of property taxes available to BC owners who occupy their property as their principal residence on December 31 of the assessment year. Two grant amounts: $570 (basic, available across most of BC) and $770 (northern and rural — outside the Metro Vancouver, Fraser Valley, and Capital Regional Districts). Higher additional-grant amounts (up to $275 extra, total grant up to $845 / $1,045) apply to seniors 65+, persons with disabilities, and certain veterans / spouses of deceased owners.

    The grant is reduced by $5 for every $1,000 of assessed value above the phase-out threshold. The threshold is set annually by the Province; for the 2026 tax year the threshold is $2,075,000 (down from $2,175,000 for 2025). The grant is reduced by $5 for every $1,000 of assessed value above the threshold, so for 2026 the basic grant phases out completely above $2,189,000 and the additional grant above $2,244,000.

    Confirm the threshold for the current tax year against gov.bc.ca/homeownergrant. The grant is claimed annually and applied to the property tax notice — not automatic; if you forget to claim, you pay full tax. Effective January 1, 2027 the northern and rural top-up is eliminated: the regular grant becomes $570 everywhere in B.C., including northern and rural properties (gov.bc.ca/homeownergrant, read 2026-09-21).

    ID, versions and tags

    bc.home_owner_grant v1 · re-verify by Dec 31, 2026

    bc, home-owner-grant, property-tax

    • January 1, 2025 to January 1, 2026 · The 2025 tax-year phase-out threshold. Grant amounts were unchanged; only the threshold moved.

  • Home Buyers' Plan RRSP withdrawal limit

    Effective January 1, 2026 · verified November 6, 2026

    Tax-free RRSP withdrawal for first-time home purchase. Limit raised from $35,000 to $60,000 for withdrawals made on/after April 16, 2024. The 5-year (vs standard 2-year) repayment grace period covers first withdrawals made between January 1, 2022 and December 31, 2025, and was extended to first withdrawals between January 1, 2026 and December 31, 2028: the 15-year repayment period then starts in the fifth year after the year of first withdrawal, so a first withdrawal in 2026 has a first repayment year of 2031.

    Standard repayment over 15 years applies in all cases.

    ID, versions and tags

    cra.hbp.withdrawal_limit v3 · re-verify by Feb 5, 2027

    federal, hbp, rrsp, first-time-buyer, cra

    • April 16, 2024 to January 1, 2026 · Before the extension, a first withdrawal after 2025-12-31 carried the standard 2-year grace.
    • March 19, 2019 to April 16, 2024 · $35,000 withdrawal limit applied for withdrawals before April 16, 2024.

  • BC Assessment: Notice of Complaint deadline

    Effective January 1, 1996 · verified November 4, 2026

    A Notice of Complaint against a property assessment must be filed with BC Assessment (not with the Property Assessment Review Panel) no later than January 31 of the year after the roll is completed. When January 31 falls on a weekend, BC Assessment has moved the deadline to the next business day: for the 2026 roll it was Monday, February 2, 2026, 11:59 p.m. Pacific. January 31, 2027 is a Sunday.

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    bc.assessment.complaint_deadline v1 · re-verify by Apr 12, 2027

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  • BC Assessment: valuation date and condition date

    Effective January 1, 1996 · verified November 4, 2026

    An assessment states actual (market) value as of July 1 of the year before the notice, with the property in the physical condition, and the permitted use, that it has on the following October 31. The notice delivered in January 2027 reflects July 1, 2026.

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    bc.assessment.valuation_basis v1 · re-verify by Apr 12, 2027

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  • BC Assessment: Property Assessment Review Panel hearings

    Effective January 1, 1996 · verified November 4, 2026

    The Property Assessment Review Panel is the first level of appeal. BC Assessment schedules hearings on business days from early February to March 15 (the Act requires them before March 16). A hearing usually lasts 30 minutes. The complainant carries the burden of proof, and the panel considers market value only. Assessment notices for the 2026 roll were mailed in early January 2026.

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    bc.assessment.review_panel v1 · re-verify by Apr 12, 2027

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  • BC Assessment: Property Assessment Appeal Board deadline

    Effective January 1, 1996 · verified November 4, 2026

    The second level of appeal is the Property Assessment Appeal Board. A notice of appeal and the prescribed fee must be filed with the Board on or before April 30 following the sitting of the review panel. A complaint to the review panel comes first.

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    bc.assessment.appeal_board_deadline v1 · re-verify by Apr 12, 2027

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Mortgage

Mortgage default insurance, the federal stress test, and amortization rules

  • CMHC default insurance maximum purchase price

    Effective December 15, 2024 · verified November 6, 2026

    Maximum home purchase price eligible for default mortgage insurance (CMHC, Sagen, Canada Guaranty). Raised from $1,000,000 to $1,500,000 effective December 15, 2024. Below this cap, buyers can put as little as 5% down on the first $500,000 + 10% on the portion above. Above this cap, conventional 20%-down mortgage required. CMHC's Purchase and Home Start pages (read 2026-11-04) word the limit as a price "below $1,500,000" (re-read 2026-11-06), so a price of exactly $1,500,000 is not insurable.

    ID, versions and tags

    cmhc.insurance_cap v2 · re-verify by Feb 26, 2027

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    • July 9, 2012 to December 15, 2024 · $1M cap from 2012-07-09 to 2024-12-15.

  • 30-year amortization eligibility (insured mortgages)

    Effective December 15, 2024 · verified November 4, 2026

    CMHC-insured mortgages permit 30-year amortization (vs. standard 25-year max) for two specific borrower categories: (1) all first-time home buyers regardless of property type, and (2) any buyer purchasing newly constructed housing (new build). Effective December 15, 2024.

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    cmhc.amortization_30yr_eligibility v1 · re-verify by Feb 26, 2027

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  • OSFI Guideline B-20 mortgage stress test

    Effective January 1, 2018 · verified November 6, 2026

    Federally-regulated lenders (banks, federal credit unions) must qualify uninsured borrowers at the GREATER of (a) the contract rate + 2 percentage points, or (b) the 5.25% minimum qualifying rate, a floor the federal bank regulator, the Office of the Superintendent of Financial Institutions, sets and reviews each year (it is not a Bank of Canada rate).

    Insured borrowers are qualified at the same higher-of test by CMHC. Applies to new originations and to refinances — any increase in loan amount or remaining amortization. It does NOT apply to a straight switch at renewal (see osfi.b20.renewal_no_stress_test), and it never applied to renewing with the existing lender, which is not a new origination.

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    osfi.b20.stress_test v2 · re-verify by Feb 26, 2027

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  • Straight switch at renewal — no stress test (Nov 2024+)

    Effective November 21, 2024 · verified November 1, 2026

    Effective November 21, 2024, the federal banking regulator no longer prescribes the minimum qualifying rate when an uninsured borrower switches to a different federally-regulated lender at renewal, provided it is a "straight switch": no equity taken out, the balance rises by at most $3,000 for transaction costs, and the remaining amortization is not extended.

    The new lender still assesses the borrower under B-20 and calculates debt service ratios appropriately stressed. Renewing with the existing lender never required the test, because a renewal is not a new origination. Refinances, new originations and any other increase still fall under the qualifying test.

    ID, versions and tags

    osfi.b20.renewal_no_stress_test v2 · re-verify by Feb 26, 2027

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  • Loan-to-Value (LTV) ratio — Canadian mortgage underwriting

    Effective April 9, 2008 · verified May 22, 2026

    Loan-to-Value (LTV) is the ratio of the mortgage loan amount to the lower of (a) the purchase price or (b) the appraised value of the property, expressed as a percentage. LTV is the binding constraint on whether a mortgage requires default insurance: any loan above 80% LTV (i.e., a down payment below 20%) requires CMHC, Sagen, or Canada Guaranty default insurance under federal rules.

    CMHC default-insurance premium tiers are LTV-banded (95.01–90.00% LTV, 90.01–85.00% LTV, etc.), with higher LTV brackets carrying higher premium percentages. OSFI Guideline B-20 also references LTV in its underwriting expectations for federally regulated lenders. The Bank Act and the Insurance Companies Act set the statutory 80% LTV ceiling above which insurance is required.

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    mortgage.loan_to_value_ratio v1 · re-verify by May 22, 2027

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Foreign Buyer

The federal purchase ban and BC’s additional tax on foreign buyers

  • Federal Prohibition on the Purchase of Residential Property by Non-Canadians Act

    Effective January 1, 2023 · verified November 6, 2026

    Federal Act prohibiting most non-Canadians (and entities controlled by non-Canadians) from purchasing residential property in Census Metropolitan Areas (CMA) and Census Agglomerations (CA). Originally effective January 1, 2023 with a 2-year sunset (expiry January 1, 2025); extension to January 1, 2027 announced February 4, 2024 and enacted by S.C. 2024, c. 17, s. 149 (assented June 20, 2024). No further extension is law as of 2026-11-06, but Budget 2026 (tabled 2026-11-05, chapter 3) proposes extending the ban on existing residential properties to January 1, 2029 while exempting new residential properties; legislation and regulations are still to come.

    Applies to most BC urban areas including the Vancouver CMA (covering Metro Vancouver) and the Abbotsford–Mission CMA (covering the Fraser Valley urban core). Excludes residential property of 4+ units. Penalty: up to $10,000 fine plus court order to sell.

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    ca.foreign_buyer_ban v3 · re-verify by Jan 15, 2027

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    • January 1, 2023 to February 4, 2024 · Original Act had 2-year sunset until Jan 1, 2025.

  • BC specified areas for Foreign Buyer Additional PTT

    Effective February 21, 2018 · verified November 6, 2026

    BC regions where the 20% foreign-buyer additional PTT applies. The list expanded geographically Feb 21, 2018 from Metro Vancouver only to include four additional regional districts.

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    bc.foreign_buyer_specified_areas v1 · re-verify by Apr 30, 2027

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  • Federal Foreign Buyer Ban exemption categories

    Effective March 27, 2023 · verified November 4, 2026

    Categories of non-Canadian persons who are exempted from the federal Prohibition on the Purchase of Residential Property by Non-Canadians Act. The two temporary-resident routes carry conditions read straight from section 5 of the Prohibition on the Purchase of Residential Property by Non-Canadians Regulations: a work permit is tested on validity remaining at purchase, not on time already spent in Canada, and the student route carries a $500,000 purchase-price ceiling.

    Both are capped at one residential property. Always confirm eligibility with a real estate lawyer before any offer where status is in question.

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    ca.foreign_buyer_ban.exemptions v2 · re-verify by Apr 30, 2027

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  • Federal Underused Housing Tax repealed for 2025 onward

    Effective March 26, 2026 · verified August 20, 2026

    The federal Underused Housing Tax charged 1% a year on the taxable value of vacant or underused Canadian residential property, mostly against non-resident non-Canadian owners, and required an annual return even from owners who owed nothing. Budget 2025, tabled November 4, 2025, announced its elimination. Bill C-15, the Budget 2025 Implementation Act No. 1, received Royal Assent on March 26, 2026 and ended the tax for the 2025 calendar year and every year after.

    Both the tax and the filing obligation are gone from 2025. The 2022, 2023 and 2024 years are untouched: tax, returns, penalties and interest for those three years remain assessable and enforceable, including against corporations, partnerships and trusts that never filed. The Underused Housing Tax Act itself is not struck from the statute book until January 1, 2035, which is housekeeping so the Canada Revenue Agency can still assess and collect the open years, and does NOT mean the tax runs until 2035.

    Provincial and municipal vacancy taxes are unaffected: the BC Speculation and Vacancy Tax and the City of Vancouver Empty Homes Tax both continue.

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    ca.uht.repealed v1 · re-verify by Jun 30, 2027

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Strata

The BC Strata Property Act, the Form B certificate, and depreciation reports

  • BC Strata Form B Information Certificate fee

    Effective July 1, 2002 · verified November 5, 2026

    Maximum fee a strata corporation may charge for a Form B Information Certificate is $35 under section 4.4 of the Strata Property Regulation (BC Reg 43/2000). The $35 cap is for the Form B certificate itself; a $0.25/page photocopy cap applies separately to (a) attachments accompanying Form B and (b) copies of other strata documents requested under section 4.2 of the Regulation (which implements Strata Property Act s. 36 — bylaws, rules, financial statements, AGM/SGM minutes).

    Form B must be issued within 1 week (commonly rendered as 7 days) of request, per SPA s. 59.

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    bc.strata.form_b_fee v1 · re-verify by Apr 9, 2027

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  • Bill 44 (2022) — Building and Strata Statutes Amendment Act

    Effective November 24, 2022 · verified November 6, 2026

    NOT to be confused with Bill 44 (2023) SSMUH. The 2022 Bill 44 amended the Strata Property Act effective November 24, 2022 to: (1) void all rental restriction bylaws (strata corps can no longer prohibit or limit rentals to non-family); (2) restrict age-restriction bylaws to a minimum age of 55, with exemptions for some caregivers and prior residents (and, from May 1, 2023, for children and younger spouses or partners).

    Bylaws limiting or banning short-term rentals remain allowed (BC Government, Changes to strata legislation).

    ID, versions and tags

    bc.bill44_2022_strata v1 · re-verify by Apr 9, 2027

    strata, bill-44-2022, rental, age-restriction, bc

  • BC Strata depreciation report mandatory cycle

    Effective July 1, 2024 · verified November 5, 2026

    Strata corporations of 5+ residential units must obtain a depreciation report every 5 years. Effective July 1, 2024 — phased compliance dates apply. A strata corporation that has no depreciation report, or whose report was received before December 31, 2020, must obtain one by July 1, 2026 if it is in Metro Vancouver, the Fraser Valley or the Capital Regional District; by July 1, 2027 everywhere else in BC, including the Southern Gulf Islands and Bowen Island (islands within those three districts reachable only by boat or air fall in the later group).

    A strata whose report was received on or after December 31, 2020 stays on the ordinary 5-year cycle. The depreciation report must accompany Form B once mandatory for that strata.

    ID, versions and tags

    bc.strata.depreciation_report_mandatory v1 · re-verify by Apr 9, 2027

    strata, depreciation-report, bc, spa

  • BC strata insurance crisis — 2020 reform package

    Effective August 14, 2020 · verified November 5, 2026

    BC strata insurance rules and the 2020 reform package. Bill 14 (2020), the Municipal Affairs and Housing Statutes Amendment Act (No. 2), 2020, took effect on Royal Assent, August 14, 2020: a strata corporation must inform owners and tenants as soon as feasible of any material change in its insurance coverage, including an increase in a deductible (Strata Property Act, s. 154(c)).

    Since April 1, 2023 the Form B Information Certificate must carry a summary of the strata's insurance coverage (s. 59(3)(l.2)); the summary is not binding on the strata when it comes from the insurer or agent (Strata Property Act, s. 59(5.1)). Property insurance must be on the basis of full replacement value (s. 149(4)).

    A deductible is a common expense shared through strata fees (s. 158(1)), and a strata may pay it from the contingency reserve fund or a special levy without the usual 3/4 vote (s. 158(3)). Section 158(2) lets the strata sue an owner who is responsible for the loss or damage to recover the deductible; the Province says the owner need not be negligent.

    Neither the Act nor the Strata Property Regulation, as consolidated to October 27, 2026, sets a maximum on that recovery. The Province now says deductibles can range from $100,000 to $750,000 and higher depending on the number of units and the claims history, and that an insurer must give the strata 30 days' notice of non-renewal or a material change.

    Earthquake deductibles are a percentage of replacement value, typically 10% to 20%. Earlier industry-reported premium and deductible figures from 2019 to 2022 are history and are not stated here as current.

    ID, versions and tags

    bc.strata.insurance_crisis_reforms v3 · re-verify by May 9, 2027

    strata, insurance, bc, spa, reform

  • Bill 47 (2023) — Transit-Oriented Development Areas Act

    Effective December 7, 2023 · verified October 13, 2026

    Companion legislation to Bill 44 (see bc.bill44_2023_ssmuh). The Transit-Oriented Areas regulations under the Housing Statutes (Transit-Oriented Areas) Amendment Act, 2023 (Bill 47) — Royal Assent November 30, 2023, regulations made December 7, 2023 — designate prescribed transit hubs across BC as Transit-Oriented Development Areas (TOD Areas). Within an 800m radius of a designated SkyTrain station and 400m of a designated bus-exchange / RapidBus stop, municipalities are required to permit minimum density and height per provincial Tier (1/2/3 — distance bands from the station).

    Around a SkyTrain station the regulation sets minimum allowable densities, which a municipality must allow and may exceed: tier 1 within 200m, at least 5.0 FAR / 20 storeys; tier 2 from 200-400m, at least 4.0 FAR / 12 storeys; tier 3 from 400-800m, at least 3.0 FAR / 8 storeys (the figures for Burnaby, Coquitlam, both Langleys, New Westminster, Port Moody, Richmond and Surrey; other municipalities have their own tables in B.C. Reg.

    263/2023). Around a bus exchange the regulation uses its own bands, which it numbers tier 4 (within 200m) and tier 5 (200-400m), and the prescribed minimums are lower than the SkyTrain ladder and vary by jurisdiction — Metro Vancouver, the rest of BC, and smaller jurisdictions each get different figures, so the bus-side density for a specific hub has to be read off the regulation for that municipality.

    Provincial framework overrides single-family-only and most low-density municipal zoning within the TOD area. Municipalities had to designate the TOD areas in their bylaws by June 30, 2024. Lower Mainland designated SkyTrain station hubs include Surrey Central, Gateway, King George (Surrey), Lougheed Town Centre, Production Way–University, Coquitlam Central, Lincoln, Burquitlam, plus Langley's future SkyTrain stations (Surrey-Langley extension) and, in Langley, the Langley Centre Exchange (Carvolth is not in the regulation).

    Practical consequence for buyers and sellers: a house listed inside a TOD area may carry assemblage value materially above the lot's detached-housing comparable; a strata unit inside a TOD area may face significant near-term redevelopment pressure (and future demolition / displacement risk) that should be priced into purchase decisions.

    ID, versions and tags

    bc.tod.transit_oriented_development v3 · re-verify by Apr 9, 2027

    tod, bill-47-2023, zoning, transit, density, bc

  • Bill 44 (2023) — SSMUH (Small-Scale Multi-Unit Housing)

    Effective December 7, 2023 · verified October 13, 2026

    NOT to be confused with Bill 44 (2022) Building and Strata Statutes Amendment Act. The 2023 Bill 44 (Housing Statutes (Residential Development) Amendment Act, 2023) requires most BC municipalities to permit 3-4 units on lots zoned for single-family/duplex, and 6 units on larger lots near "frequent transit" hubs. Which number applies turns on two conditions the unit counts are meaningless without: lot area, where a parcel of 280 m² (3,014 sq ft) or smaller carries the 3-unit minimum and a parcel larger than 280 m² (3,014 sq ft) carries the 4-unit minimum, and distance to frequent transit, where 400 m of a qualifying stop unlocks the 6-unit minimum on a lot above 280 m² (3,014 sq ft).

    A stop QUALIFIES if it is served by at least one bus route on which a bus is scheduled to stop at least every 15 minutes on average, between 7 a.m. and 7 p.m. Monday to Friday and between 10 a.m. and 6 p.m. on Saturdays and Sundays (B.C. Reg. 262/2023, section 2(4)). No map is the legal test.

    The Province's policy manual suggests liaising with the transit operator to identify qualifying stops and says the lowest level of service may be used where service varies seasonally; the regulation itself says nothing about seasons. Most municipalities adopted bylaws by the June 30, 2024 statutory deadline. Township of Langley adopted its 2024 small-scale housing bylaw on November 18, 2024 (extended deadline grant).

    Also abolishes most public hearings for OCP-conformant rezoning. Amended by Bill 25 (2025), the Housing and Municipal Affairs Statutes Amendment Act, which received Royal Assent November 27, 2025 and widened the definition of a restricted zone to reach zones permitting a detached house plus a secondary suite plus a detached accessory dwelling — closing the argument that a zone already allowing three units sat outside the requirement.

    Local governments had to bring bylaws into line with the widened definition by June 30, 2026, and the Province may override a non-compliant zoning bylaw.

    ID, versions and tags

    bc.bill44_2023_ssmuh v3 · re-verify by Apr 9, 2027

    ssmuh, bill-44-2023, bill-25-2025, zoning, bc

Rental

Tenancy law, short-term-rental rules, and the annual rent cap

  • BC annual rent increase cap, 2026

    Effective January 1, 2026 · verified November 6, 2026

    Maximum allowable rent increase for existing tenancies in 2026 calendar year. Set each year by the Residential Tenancy Branch, which published the 2026 limit of 2.3% on its rent-increases page, alongside the 2027 limit (see bc.rent_cap.2027). The limit has been announced at different times of year (the 2027 limit appeared in August 2026), so this fact is re-checked against that page.

    ID, versions and tags

    bc.rent_cap.2026 v3 · re-verify by Dec 15, 2026

    rta, rent-cap, bc

    • January 1, 2024 to January 1, 2025
    • January 1, 2025 to January 1, 2026

  • BC annual rent increase cap, 2027

    Effective January 1, 2027 · verified November 6, 2026

    Maximum allowable rent increase for existing tenancies in the 2027 calendar year, published by the Residential Tenancy Branch on 2026-08-27 as 2.2%. Applies to increases taking effect on or after 2027-01-01; because the Branch requires three full months of notice, a notice served from October 2026 onward for a January 2027 increase is governed by this figure rather than the 2026 cap of 2.3%.

    Like its 2026 sibling this is one of the most volatile numbers on the site and one a reader acts on directly, so it is watched weekly by audit:fact-drift.

    ID, versions and tags

    bc.rent_cap.2027 v1 · re-verify by Sep 30, 2027

    rta, rent-cap, bc

  • BC RTA Bill 14 (2024) — Personal-use eviction reform

    Effective June 18, 2025 · verified November 6, 2026

    A personal-use eviction in BC now runs on three months of notice with 21 days for the tenant to dispute it, whoever is moving in. That was not always so, and the two cases arrived at it separately. Bill 14 raised both to 4 months on July 18, 2024, from 2 months before that.

    A regulation effective August 21, 2024 cut the PURCHASER'S-use notice back to 3 months with a 21-day window, because the 4-month period was blocking first-time buyers who needed vacant possession. A further change effective June 18, 2025 did the same for the LANDLORD'S own or a close family member's use, explicitly to align the two, so the differential no longer exists.

    A notice served before June 18, 2025 stays on the old 4-month, 30-day terms. A landlord's-use notice cannot be given at all in a non-strata rental building of five or more units. In either case the new occupant (landlord, close family member, or purchaser) must occupy the unit for at least 12 months; failing to do so entitles the tenant to compensation of 12 months' rent, on top of the one month's rent compensation payable when the notice is served.

    Notices must be issued through the province's web portal, introduced to combat fraudulent personal-use evictions.

    ID, versions and tags

    bc.rta.bill14_2024_personal_use_eviction v3 · re-verify by May 14, 2027

    rta, bill-14-2024, eviction, bc

  • BC Short-Term Rental Accommodations Act (STRAA)

    Effective May 1, 2024 · verified November 6, 2026

    Effective May 1, 2024 in most BC municipalities. Short-term rentals (under 90 consecutive nights) are restricted to the operator's principal residence, plus one secondary suite or accessory dwelling unit on that property. Exempts certain communities and land (for example Whistler and ski resort areas). Hosts must register with the Provincial registry, and the Province lists the communities that opt in or out each year. Platforms (Airbnb, VRBO) must also register.

    ID, versions and tags

    bc.straa v2 · re-verify by Jan 31, 2027

    straa, short-term-rental, bc

More in the Codex

Glossary, A–Z68 plain-English definitions, each tied to a factWhat changed recentlyEach recorded change, dated, with the previous valueProperty Transfer Tax: change historyChanges since 2016, with sources

Tools and market data

CalculatorsPTT, GST on a new build, affordability, net proceedsCompare two areasPrice, inventory and days on market, side by sideState-of-market reportsDated, archived, never rewritten in placeThe Vancouver Special IndexOne house type, tracked as a market signalEmbeddable widgetsPut the PTT calculator on your own siteHow the numbers are sourcedWhich board, which month, last verified when

Bronson Job PREC, REALTOR® at Momentum Realty Inc.. GVR Member #6015742 · FVREB Member #FJOBBR

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Licence: Codex content is licensed under Creative Commons Attribution 4.0 International (CC BY 4.0). You may copy, redistribute, and adapt this material, commercially or non-commercially, provided you cite the original source: BC Real Estate Codex by Bronson Job, https://www.bronsonjob.com/codex.

Last reviewed by Bronson Job PREC, REALTOR®. Licence CC BY 4.0. How we verify.