BC Speculation Tax
I am a retired Canadian citizen and have owned our townhouse in Metro Vancouver which we use as a vacation home for over 14 years. We spend 5 months of the year in our townhouse. BC is not our legal residence. Our strata/townhouse association bylaws and regulations do not allow:
rentals of any kind
owners must be 45 years old
no children or persons under 25 years of age can reside in the complex.
My question is: Will our townhouse be exempt from the proposed BC Speculation Tax? I’ve read articles from the Vancouver Sun that stratas that prohibit rentals are exempt.
Your reply will be appreciated.