Resident British Columbians own about 30 per cent of the properties subject to the speculation and vacancy tax, but account for just 6.6 per cent of collected revenue.
Commercial real estate investors, owners and managers are acknowledging that entrenched social inequities undermine their workforces, their tenants and the value of their portfolios.
Although they increasingly rely on professional service providers to keep up with the complexities of compliance, owners/managers ultimately carry the responsibility for life safety and bear the brunt of enforcement.
For now, residential and small business customers enrolled for either time-of-use (TOU) rates or tiered pricing under the provincial regulated price plan will be charged the off-peak TOU rate of 8.5 cents per kilowatt-hour for all electricity consumption.