All residential property owners in the designated taxable regions must complete a declaration for the speculation and vacancy tax on an annual basis. In a case where there are multiple owners, each owner must complete a separate declaration. You are only entitled to an exemption if you make the declaration. Failure to complete the declaration will result in being charged tax at the maximum tax rate. At this point, you should have all your speculation and vacancy tax declaration letters already.
Important Dates to Note:
- January 20,2020:Declaration Period Opens
- Mid-February: If you own residential property in a designated taxable region on December 31, 2019, you will receive a speculation and vacancy tax declaration letter in the mail. Letters will be mailed between January 20th to February 14, 2020.
- March 31, 2020: Declaration Due
- April to May 2020: Most Tax Notices Mailed
- July 2, 2020: Tax Payment Due (if you are owing)
Important Information You Need to Make a Declaration:
1) Declaration Code (Can be found on your Declaration Letter)
2) Letter ID (Can be found on your Declaration Letter)
3) Social Insurance Number (SIN)
For additional information, please click here.