Residential Property (Short-Term Holding) Profit Tax Regulation

B.C. Reg. 281/2024
O.C. 647/2024

Deposited December 9, 2024
effective January 1, 2025

This consolidation is current to October 7, 2025.

Link to consolidated regulation (PDF)

Residential Property (Short-Term Holding) Profit Tax Act

Residential Property (Short-Term Holding) Profit Tax Regulation

Definition

1 In this regulation, "Act" means the Residential Property (Short-Term Holding) Profit Tax Act.

Calculation of interest

2 Interest payable on amounts due to the government under the Act must be

(a) calculated at the rate prescribed under section 8 of the Interest Rate Under Various Statutes Regulation, B.C. Reg. 386/92, and

(b) calculated on a daily basis and compounded monthly.

Certificate of lien form

3 The form set out in the Schedule is prescribed for the purposes of section 79 (2) (a) [lien] of the Act.

Communication of information – prescribed enactment

4 For the purposes of section 87 (5) (k) [communication of information] of the Act, section 8 [Comptroller General] of the Financial Administration Act is a prescribed enactment.

Schedule

(section 3)

CREST

Province of British Columbia

Ministry of Finance

IN THE MATTER OF the Residential Property (Short-Term Holding) Profit Tax Act, S.B.C. 2024, chapter 14, section 79, and in the matter of the interest

OF .................................................................................................................................................... [name]

IN .................................................................................................................................................................

....................................................................................... [P.I.D. number and full legal description of land]

CERTIFICATE OF LIEN

I certify that:

1 ...........................................................................................................................................

[debtor name]

...........................................................................................................................................

[debtor address]

(a) required to pay or remit an amount to the government under the Residential Property (Short-Term Holding) Profit Tax Act but has not paid or remitted that amount, or

(b) an associated corporation, as defined in section 79 (1) of the Residential Property (Short-Term Holding) Profit Tax Act, of a person who is required to pay or remit an amount to the government under the Residential Property (Short-Term Holding) Profit Tax Act and has not paid or remitted that amount.

2 The amount remaining unpaid or unremitted as of the date of this certificate is $....................................

AND TAKE NOTICE that on registration of this certificate in the land title office, the amount of the indebtedness to His Majesty the King in right of the Province of British Columbia is a lien against the land described above.

Dated at........................................, British Columbia on..................................[date]

.............................................................................
Commissioner

[Provisions relevant to the enactment of this regulation: Residential Property (Short-Term Holding) Profit Tax Act, S.B.C. 2024, c. 14, ss. 59, 79 (2), 87 (5) (k) and 102.]