.png)
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
(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
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.