Skip to Main content

5.02°^C Vancouver

News Entertainment Videos Shows Podcast Contact Us

Dec 23, 2024 7:23 PM - Connect Newsroom

Home Flipping Tax in BC to Take Effect January 1, 2025

Share On

home-flipping-tax-in-bc-to-take-effect-january-1-2025

The primary goal is to discourage investors from buying properties solely to resell them for a quick profit.

The home flipping tax in British Columbia will come into effect on January 1, 2025. This tax targets individuals profiting from real estate speculation.

The primary goal is to discourage investors from buying properties solely to resell them for a quick profit. Finance Minister Brenda Bailey stated that real estate speculators drive up housing prices, making it harder for others to afford homes, and this new measure aims to address that issue.

Real estate speculators are defined as those who purchase property or land with the intent to sell it for a profit. According to the provincial government, the tax will apply to homeowners who sell their property within two years of purchase.

Exceptions will be made for individuals selling their homes due to divorce, job loss, or changes in family membership.

Latest news

police-seek-second-suspect-in-fatal-brampton-shooting-issue-canada-wide-warrant

CanadaFeb 27, 2026

Police seek second suspect in fatal Brampton shooting, issue Canada wide warrant

Peel Regional Police homicide investigators are asking for the public’s help in locating a second suspect wanted in connection with a fatal shooting in Brampton last summer. Police say two men entered a residence near Castlemore Road and Humberwest Parkway on August 19, 2025, where two individuals were shot. One of the victims died at the scene, while the second person was taken to hospital with gunshot wounds and later released. In October 2025, officers arrested 24 year old Dilpreet Singh of Brampton and charged him with first degree murder. Investigators have now identified a second sus

rcmp-investigating-vehicle-and-mailbox-vandalism-in-nanaimo

RCMP investigating vehicle and mailbox vandalism in Nanaimo

Police in Nanaimo are appealing for witnesses after a vehicle and several community mailboxes were vandalized overnight earlier this week. According to the Nanaimo RCMP, officers responded to reports of damage in the 900 block of Old Victoria Road on the morning of February 25. A newer model Tesla that had been parked on the roadway was found with deep scratches across the hood and side panels, along with a shattered windshield. Investigators also discovered several Canada Post community mailboxes located a short distance away had been torn from their concrete base. Police say it is not yet cl

canadas-economy-contracts-in-fourth-quarter-of-2025-as-annual-growth-slows

CanadaFeb 27, 2026

Canada’s Economy Contracts in Fourth Quarter of 2025 as Annual Growth Slows

Canada’s economy recorded a contraction in the final three months of 2025, defying earlier expectations of stable growth, according to new data released by Statistics Canada on Friday. The federal agency reported that real gross domestic product declined at an annualized rate of 0.6 per cent in the October to December quarter. Economists had anticipated little to no change during that period. The slowdown was attributed in part to weaker residential investment and lower inventory rebuilding by manufacturers. Statistics Canada said companies met demand by drawing down existing inventories ins

vancouver-police-seek-witnesses-after-pedestrian-struck-in-hit-and-run

Vancouver Police seek witnesses after pedestrian struck in hit and run

Vancouver Police are investigating a hit and run collision that left a 39-year-old woman injured in the Downtown Eastside earlier this week. The incident happened around 11:20 a.m. on Wednesday at the intersection of East Hastings Street and Columbia Street. Police say the woman was crossing the street when she was struck by a black Kenworth dump truck pulling a trailer. She was taken to hospital and remains in stable condition. According to Const. Megan Lui of the Vancouver Police Department, the driver continued westbound after the collision and may not have realized a pedestrian had been hi

delhi-court-acquits-arvind-kejriwal-and-manish-sisodia-in-excise-policy-case-cbi-to-appeal

IndiaFeb 27, 2026

Delhi court acquits Arvind Kejriwal and Manish Sisodia in excise policy case, CBI to appeal

A Delhi trial court has acquitted former Delhi chief minister Arvind Kejriwal and former deputy chief minister Manish Sisodia in the Delhi excise policy case, ruling that the prosecution failed to establish the charges beyond reasonable doubt. In its order, the court said the Central Bureau of Investigation did not present sufficient evidence to substantiate allegations linked to the now-scrapped liquor policy. The judge observed that serious criminal charges require strong and credible proof and cannot be based on assumptions. The case centred on alleged irregularities in the formulation and

Related News

RCMP investigating vehicle and mailbox vandalism in Nanaimo

RCMP investigating vehicle and mailbox vandalism in Nanaimo

Police in Nanaimo are appealing for witnesses after a vehicle and several community mailboxes were vandalized overnight earlier this week. According to the Nanaimo RCMP, officers responded to reports of damage in the 900 block of Old Victoria Road on the morning of February 25. A newer model Tesla that had been parked on the roadway was found with deep scratches across the hood and side panels, along with a shattered windshield. Investigators also discovered several Canada Post community mailboxes located a short distance away had been torn from their concrete base. Police say it is not yet cl

Vancouver Police seek witnesses after pedestrian struck in hit and run

Vancouver Police seek witnesses after pedestrian struck in hit and run

Vancouver Police are investigating a hit and run collision that left a 39-year-old woman injured in the Downtown Eastside earlier this week. The incident happened around 11:20 a.m. on Wednesday at the intersection of East Hastings Street and Columbia Street. Police say the woman was crossing the street when she was struck by a black Kenworth dump truck pulling a trailer. She was taken to hospital and remains in stable condition. According to Const. Megan Lui of the Vancouver Police Department, the driver continued westbound after the collision and may not have realized a pedestrian had been hi

Abbotsford police arrest 25-year-old after high-speed pursuit exceeding 200 km/h

Abbotsford police arrest 25-year-old after high-speed pursuit exceeding 200 km/h

A 25-year-old driver is facing potential criminal charges after Abbotsford police say he was caught travelling nearly 200 kilometres per hour in an 80 km/h zone before crashing in Aldergrove late Tuesday night. According to the Abbotsford Police Department, an officer conducting speed enforcement on Highway 11 near Townshipline Road shortly before 11 pm recorded a grey pickup truck moving at 198 km/h using a speed laser device. Police say the vehicle continued westbound along Downes Road, where speeds exceeded 200 km/h in a posted 60 km/h zone. Additional officers were called to assist, and a

Legals

Journalism code of ethics

© 2021 AKASH Broadcasting Inc.

MANAGED BY STRATWIT

useful links

Accessibility Plan

BC Children's Hospital