In the ever-shifting landscape of real estate regulations, British Columbia is implementing a transformative measure: the BC Home Flipping Tax. Set to take effect on January 1, 2025, this tax targets income derived from the sale of properties owned for less than two years. As we go through how this tax works, it is important to note this tax is on top of our already established (January 1, 2023) Federal Flipping Tax. This rule ensures that profits from flipped properties are treated as business income,...
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