Canada
This article was added by the user . TheWorldNews is not responsible for the content of the platform.

Have you filed your tax returns yet? Expected to be affected by BC speculation tax

Burnaby homeowner charged $27,000 in state speculation tax for not filing tax return

Helen Ward shows off some of the paperwork after she was billed $27,000 in speculation tax by the B.C. government because she had yet to file her income tax return.
Helen Ward filed paperwork after being charged $27,000 in speculation tax by BC. I'm showing off some. Because she had not yet filed her income tax return. Photo by Arlen Redekop /PNG

Helen Ward, letter from state government requesting $27,455 I opened the and was shocked. She lives in a house in Burnaby all year round, which she is exempt from paying, but due to new speculation and vacancy taxes.

"It is very stressful for her to receive a $27,000 bill in the mail from the government," she said. "When someone gets a $27,000 bill, my heart beats up a little bit.

'I know she's been living here since 2001 and has someone she lives with almost all the time.' said the single mother. "I'm doing what they want people to do. Let people live in their homes."

This tax was introduced by her NDP government in 2018 to discourage speculation and vacant houses. Introduced. It also targeted foreign owners and satellite families who have Canadian citizenship but earn income outside of Canada.

This tax applies to owners of vacant homes in the Metro Vancouver, Victoria, Nanaimo, and Kelowna metropolitan areas. Next year, it will also apply to North Cowichan, Duncan, Ladysmith, Lake Cowichan, Lions Bay and Squamish on Vancouver Island.

When Ward made the declaration over the phone before her March 31 deadline, her employees asked her if she had filed her 2020 taxes. rice field.

Ward said no, saying the agent told her, "Oh, you're not going to be exempt."

She sent a 2020 return shortly after the call. However, she still received a tax bill and a second letter saying the bill was due and due. I sent an e-mail on June 2nd, apologizing and asking them to stop harassing me."

Despite the letter, a third letter arrived this week. This time she asked for late fees of $101.14, totaling her to $27,556.14.

Ward also asked Robinson why state tax collectors asked about federal taxes during the return call. , has nothing to do with this tax," she said. "Why are these two pieces of data about an individual's personal information linked?"

States use income tax records to determine citizenship and exemption eligibility. a Treasury official said in an email.

"They must be Canadian Citizens or Permanent Residents of Canada and B.C. Residents for income tax purposes," she said.

She said the department does not comment on specific cases, but "generally speaking, in cases like this, when a homeowner files an income tax

The department saidthat the Canada Revenue Agency had not notified British Columbia, so it was up to homeowners to update their returns. said it was. Treasury when homeowners file income taxes.

Homeowners have up to three years to amend the declaration or declaration. 

Ward cleared her tax bills on Thursday after speaking with a ministry employee who reviewed her files and granted an exemption.

The Department retains tax information only "for purposes of administering taxes." The spokesperson said it did not track the number of people who were not exempt because they did not file their taxes.

"These individuals will be part of the tax liability each year," she said.

In 2020, her 8,180 homeowners in BC were not exempt. That's up from her 7,361 non-exempt homeowners in 2019.

These figures could change as homeowners amend their returns, she said.

More news, less advertising: Our in-depth journalism is made possible thanks to the support of our subscribers. For just $3.50 a week, get unlimited add-on access to The Vancouver Sun, The Province, National Post and 13 other Canadian news sites. The Vancouver Sun | Support us by subscribing now. State

Vancouver Sun Headline News logo

Vancouver Sun, a division of Postmedia Network Inc. .

By clicking the subscribe button, you agree to receive the above newsletter from Postmedia Network Inc. You can unsubscribe at any time by clicking the unsubscribe link at the bottom of the email. Post Media Networks Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300