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British Columbia real-estate and foreign buyer taxes


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#841 rjag

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Posted 07 February 2019 - 07:55 AM

No form here either. and yes I'm not surprised at the approach to the Ad...



#842 rjag

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Posted 07 February 2019 - 08:05 AM

I saw this and for some reason I thought of Geoff Meggs and Ben Isitt and their anti-2nd home fervour....no idea why

 

At a party meeting, a Communist party officer is drilling a local worker. He asks him: “Comrade, if you had two houses, would you give one to the Communist Party?”

The worker responds “Yes, definitely, comrade, I would give one of my houses to the party!”

Then he asks “Comrade, if you had two cars, would you give one to the party?”

Again, the worker says, “Yes, I would give one of my cars to the party!”

Finally, the officer asks, “If you had two shirts, would you give one to the party?”

“Nyet!”

The officer asks “But why? Why won’t you give one of your shirts to the party?”

The worker says: “Because I HAVE two shirts!”

 

 

Gotta love old communist jokes


Edited by rjag, 07 February 2019 - 08:06 AM.

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#843 thaicobb

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Posted 07 February 2019 - 09:02 AM

Got the letters for two Victoria properties still linked to my LA address around two weeks ago.  Maybe a more likely target for the tax, but both rented continuously.



#844 spanky123

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Posted 07 February 2019 - 10:06 AM

I am still waiting to receive my spec tax notice.

And yes, the above ad is terribly condescending.


Perhaps that is how they plan to hit their quota. If you don’t get a notice then you will fail to respond.
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#845 Nparker

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Posted 07 February 2019 - 10:26 AM

Perhaps that is how they plan to hit their quota. If you don’t get a notice then you will fail to respond.

Don't think I haven't thought of that. I am becoming paranoid in my old age.



#846 VIResident

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Posted 07 February 2019 - 02:16 PM

Don't think I haven't thought of that. I am becoming paranoid in my old age.Wis

not paranoid, wise.



#847 Nparker

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Posted 07 February 2019 - 02:20 PM

Your cheque is in the mail VIResident.


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#848 Nparker

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Posted 13 February 2019 - 05:07 PM

I finally received my SPEC tax declaration form in the mail today. I think what I hate the most about it is that I can't make any significant protest until May 2021...unless by some good fortune the government falls before then. 



#849 laconic

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Posted 13 February 2019 - 05:33 PM

We got forms, as did people we know in Alberta.

 

They ask for social insurance numbers. I thought that wasn't allowed.



#850 spanky123

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Posted 13 February 2019 - 05:56 PM

We got forms, as did people we know in Alberta.

 

They ask for social insurance numbers. I thought that wasn't allowed.

 

Better question is how they are linking your SIN to your property!


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#851 phx

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Posted 13 February 2019 - 06:42 PM

We got forms, as did people we know in Alberta.

 

They ask for social insurance numbers. I thought that wasn't allowed.

Is there a requirement for a home owner to have a SIN?  It's hard to imagine a home owner not having one, but I suppose it is possible.



#852 tjv

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Posted 14 February 2019 - 04:37 PM

What a joke.  When do these NDP/Green idiots get fired again?  Let me guess we have to do this every year?

 

Meanwhile you can probably lie and how are they going to catch you?


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#853 Victoria Watcher

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Posted 14 February 2019 - 04:38 PM

Meanwhile you can probably lie and how are they going to catch you?

 

random audits just like revenue canada etc.


Edited by Victoria Watcher, 14 February 2019 - 04:38 PM.


#854 Nparker

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Posted 14 February 2019 - 04:38 PM

...Let me guess we have to do this every year?...

Yes.



#855 Mike K.

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Posted 14 February 2019 - 04:49 PM

I just got mine, and one of the previous owners of the house got his, too. What’s up with that? Where are they pulling the owner information from if not from titles?

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#856 tjv

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Posted 14 February 2019 - 04:51 PM

random audits just like revenue canada etc.

haha, just like all the landlords with basement suites that never declare that income?


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#857 spanky123

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Posted 14 February 2019 - 06:39 PM

I just got mine, and one of the previous owners of the house got his, too. What’s up with that? Where are they pulling the owner information from if not from titles?

 

Have you checked your title recently?!


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#858 rjag

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Posted 14 February 2019 - 08:03 PM

Wife and I got our forms for our principal residence. Took 5-6 mins each but not happy about sharing SIN # or contact email...heck if the govt wants to contact me they will send a letter, if they sent an email I would automatically assume its phishing.

 

Will be interesting to see how long it will take for the property in Kelowna and Victoria through our company as that will be a different story



#859 LJ

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Posted 15 February 2019 - 07:47 PM

What happens if you don't provide your SIN#? What is their stated purpose for requiring it?


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#860 DustMagnet

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Posted 15 February 2019 - 08:30 PM

If you don't provide your SIN the declaration is incomplete.

 

If the declaration is incomplete it can't be submitted.

 

If the declaration is not submitted you pay the speculation tax on your registered property or properties.

 

There is no specific stated purpose for the SIN, it's just a required piece of data similar to your name, DOB, etc.

 

You could refuse to declare and start (or join) a legal challenge.  You might have to pay the speculation tax initially, but might be able to get a refund once the legal dust settles, regardless of outcome.

 

My question is this: You need to put your SIN on your income tax filings so does the province get to see the filings for their residents (e.g. those who pay BC income tax) or is that for Federal eyes only?  If it's the former, they already have your SIN.



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