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British Columbia Introduces the Flipping Tax—What is it and Why Should You be Aware? | Bennett Jones LLP

British Columbia Introduces the Flipping Tax—What is it and Why Should You be Aware? | Bennett Jones LLP
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British Columbia Introduces the Flipping Tax—What is it and Why Should You be Aware?

The B.C. government announced in its 2024 budget a plan to introduce a tax the Flipping Tax on income earned from the sale of a property within 730 days of acquisition. The Flipping Tax, subject to legislative approval, will be imposed under the Residential Property Short-Term Holding Profit Tax Act scheduled to take effect January 1, 2025.1 The B.C. government estimates that the Flipping Tax will generate $43M of tax revenue in its first year.2 ....

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BC Government Targets 'Profiteers' With Legislation to Bring in Flipping Tax

BC Government Targets 'Profiteers' With Legislation to Bring in Flipping Tax
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BC Budget, new tax measures 'underwhelming,' says expert

BC Budget, new tax measures 'underwhelming,' says expert
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BC Budget, new tax measures 'underwhelming,' says expert - Bowen Island Undercurrent

BC Budget 2024 draws tepid response from industry stakeholders due to worries over the impact of new tax measures and missed investment opportunities ....

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