The BC government did NOT extend this deadline in its COVID-19 measures.
What if I file after March 31, 2020?
- You will receive a tax notice charging you the tax at the maximum tax rate of 2% of assessed value.
- However, you can still complete your declaration even after you’ve received a tax notice whether, if applicable, to claim an exemption or to report at the 0.5% lower rate.
Note that EACH spouse or partner has to file the declaration if you are both are on title.
A reminder – if you do have to pay and are a B.C. owner then you are eligible for a tax credit of up to $2,000 on the secondary property to offset their tax payable.
Please contact your DMCL advisor if you have any questions.