Speculation Tax is an annual tax paid by some owners of residential properties in designated taxable regions of B.C. The tax was designed to discourage housing speculation and people from leaving homes vacant.
A home that is not a principal residence must be rented for at least six months per year to be exempt from the speculation tax. Short-term rentals for periods of less than one month do not count towards the six-month total.
Cultus Lake is not included in the designated taxable regions, and therefore, people who own or purchase a secondary home in the area are exempt from the tax.