business.financialpost...peculators
The speculation tax will be introduced this fall. The new annual property tax will target foreign and domestic homeowners who do not pay income tax in B.C, including those who leave homes vacant. So-called satellite families, or households with high foreign incomes that pay little provincial income tax, will also have to pay the tax.
Principal residences and long-term rentals will generally be exempt, meaning the majority of B.C. homeowners will not pay the tax, James said.