Local guide
Tax notes for Vancouver and North Shore clients.
A few tax rules come up again and again for clients in Vancouver, North Vancouver and West Vancouver, mostly around property and incorporated professionals.
Property taxes beyond your property tax bill
- Vancouver Empty Homes Tax: City of Vancouver homeowners must file a declaration every year, even if the home is occupied.
- BC Speculation and Vacancy Tax: owners of residential property in Vancouver, North Vancouver and West Vancouver must file a declaration each year.
- Missing either declaration can lead to tax being charged even when you'd otherwise be exempt.
Condo investors
Many of our Vancouver clients own one or two rental condos. Strata fees, property tax, interest and insurance are deductible against the rent, and planning a sale ahead of time matters because of recapture and the federal and BC flipping rules.
Incorporated professionals downtown
Physicians, dentists, lawyers and consultants often have both a professional corporation and a personal household with investments and property. We prepare both sides together so salary, dividends and investments are planned as one picture.
We're at 815 Hornby St, Unit 406, between Robson and Smithe. Burrard and Vancouver City Centre stations are a few minutes away, and North Shore clients can take the SeaBus to Waterfront.
Holding companies and family planning
For business owners on the North Shore and in Vancouver with growing surplus, holding companies, estate freezes and family trusts are common questions. We model the tax side and work with your lawyer on the structure.
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