Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 26 FEBRUARY 2018

Other Measures & Medical Services Plan – BC Budget 2018

Crowe
Explore more from Crowe

The property value threshold for the full home owner grant is increased to $1.65 million for the 2018 tax year, from $1.6 million in 2017.

CanadaTax
Crowe MacKay LLP
Crowe MacKay LLP
Author LinkedIn connections

Home Owner Grant

The property value threshold for the full home owner grant is increased to $1.65 million for the 2018 tax year, from $1.6 million in 2017. For properties valued above the $1.65 million threshold, the grant is reduced by $5 for every $1,000 of assessed value in excess of the threshold.

Speculation Tax

Legislation will be introduced in 2018 that will impose a speculation tax on residential property located in B.C. This new tax will target foreign and domestic home owners who do not pay income tax in B.C., including those who leave their homes vacant. Satellite families – households with high worldwide income that pay little income tax in B.C. – will also be subject to the tax, which will be effective for the 2018 and subsequent tax years.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

How To Appeal The Toronto Vacant Home (VHT) Tax: Here’s What One Landlord Did To Fight VHT Assessment

Since 2022, the City of Toronto has imposed an annual Vacant Home Tax (VHT) on residential units left unoccupied for more than six months of the year. For most owners the tax is an afterthought: file the annual declaration, confirm the unit was lived in, and move on. But when the City’s administrative process breaks down, an owner can find themselves fighting a five-figure tax bill over a unit they insist was never vacant at all.
CanadaTax
Rotfleisch & Samulovitch P.C.
Rotfleisch & Samulovitch P.C.
Article

Cryptocurrency Held Through A Bare Trustee: Tax Treatment And The 2026 Reporting Obligations

If you hold cryptocurrency, NFTs or other blockchain assets in someone else’s wallet, or hold assets in your own wallet for someone else, the arrangement is very likely a bare trust. Until recently, that carried almost no compliance consequence. It now carries three reporting obligations to track: the T3 filing for 2026, the T1135, and the proposed Crypto-Asset Reporting Framework from 2027.
CanadaTax
Rotfleisch & Samulovitch P.C.
Rotfleisch & Samulovitch P.C.
Article

Productivity Mega Deduction: Key Tax Measures Announced At The Canada Investment Summit

Canada has introduced a permanent Productivity Mega Deduction allowing immediate expensing of up to 100% of eligible capital property costs and Canadian development expenses acquired after September 15, 2026. This measure aims to boost business investment and strengthen Canada's tax competitiveness by expanding immediate expensing eligibility from 15% to approximately two-thirds of capital investments, while reducing the country's marginal effective tax rate to 6.4%.
CanadaTax
McCarthy Tétrault
McCarthy Tétrault