Rob Shaw: B.C. expands speculation tax to Ladysmith, Duncan, North Cowichan and Lake Cowichan

B.C. is expanding its speculation tax from Victoria and Nanaimo into several smaller communities on Vancouver Island. The province announced Wednesday that Duncan, Lake Cowichan and Ladysmith will be included starting next year.

The speculation and vacancy tax was created in 2018 to add an up to two per cent property surcharge on those with multiple properties who choose to leave them empty rather than renting them out.

CHEK’s Rob Shaw has more.

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