The BC Government recently proposed the “Home Flipping Tax” that would take effect starting January of 2025.
The home flipping tax would apply to BC residents and non-residents who sell their property on or after January 1st 2025 who have owned their property for less than two years. This tax would be payable on any gain or income earned from the sale of the property.
Some exemptions apply such as certain First Nations land, life circumstances such as death, serious illness, divorce and bankruptcy.
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House Flipping Tax
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