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Volume 66, No. 6

94/2023

The British Columbia Gazette,

Part II

April 11, 2023

B.C. Reg. 94/2023 , deposited April 3, 2023, under the SPECULATION AND VACANCY TAX ACT [section 139]. Order in Council 210/2023, approved and ordered April 3, 2023.

On the recommendation of the undersigned, the Lieutenant Governor, by and with the advice and consent of the Executive Council, orders that the Speculation and Vacancy Tax Regulation, B.C. Reg. 275/2018, is amended as set out in the attached Appendix.

— K. CONROY, Minister of Finance ; B. BAILEY, Presiding Member of the Executive Council .

Appendix

Section 1 of the Speculation and Vacancy Tax Regulation, B.C. Reg. 275/2018, is amended

(

a) by repealing the definition of "average monthly rent" and substituting the following:

"average monthly rent" , in relation to a class of apartments for a calendar year, means

(

a) the average monthly rent reported by CMHC for the calendar year for the class of apartments, or

(

b) if the average monthly rent for the class of apartments is not reported by CMHC for the calendar year, the average monthly rent reported by CMHC for the class of apartments for the first calendar year preceding that calendar year; , and

(

b) by repealing the definition of "census area" .

Section 5 is amended

(

a) in subsection (2) (

a) and (

b) by striking out " average monthly rent for the class of apartments that is comparable to the residence " and substituting " average monthly rent, for the class of apartments comparable to the residence, for the calendar year ", and

(

b) in subsection (3) (

b) by striking out " the smallest census area " and substituting " the smallest geographic area ".

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