Speculation Tax

Primary, for speculation tax is considered the address you reside at the longest in a calendar year.

Primary Residence

 You do not need any rentals or any specific duration of rentals to be exempt from speculation tax

To be exempt:

Must rent min. 6 months/calendar

year in 1 month min periods

(Does not have to be consecutive)   

Non Primary Residence

Time owner stays in home DOES NOT count towards those months.

(Must be made up of rentals).

Short-term rentals for periods of less than one month do not count towards the six-month total.

After 6 months of rentals have been met, you can rent short term for the duration of that calendar year. (Subject to strata/city licensing restrictions).

If requirements not met:

2% for foreign owners

and satellite families

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(Satellite Family: An individual or spousal unit (even if Canadian Citizens or permanent residents of Canada) if majority of their total worldwide income for the year is not reported on a Canadian personal income tax return

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0.5% for Canadian citizens or permanent residents of Canada who are not members of a satellite family 

Licensing

Can rent entire home 3-4x/year short term (under 30 days). Or up to 2 beds in home while owner is living in the home

 Must rent long term, 30 days or

more or not at all.

No license required

 $150 for license 

Primary for licensing is considered the address you reside at for a min. of 6 months in a calendar year.