Skip to Main content

2.54°^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

alberta-premier-says-ucp-mlas-prepared-to-answer-recall-challenges

AlbertaNov 27, 2025

Alberta premier says UCP MLAs prepared to answer recall challenges

Alberta Premier Danielle Smith says members of her United Conservative caucus are ready to defend their work as several MLAs face active recall petitions across the province. More than a dozen campaigns have been launched under Alberta’s recall legislation, which allows constituents to attempt to remove an elected official before the next general election. Smith pointed to two senior ministers as examples of what she described as a strong government record. She said Education Minister Demetrios Nicolaides has overseen significant increases to school operating and capital budgets, and that Se

former-surrey-employee-charged-after-police-probe-alleged-2-5m-municipal-fraud

CanadaNov 27, 2025

Former Surrey employee charged after police probe alleged $2.5M municipal fraud

Surrey police say a former municipal staff member is facing several criminal charges after an investigation into what officials describe as a multi-year fraud that cost the city an estimated $2.5 million. The case began last year when the City of Surrey reported financial irregularities involving its internal payment systems. According to the Surrey Police Service, the RCMP’s economic crimes unit examined allegations that the employee had gained unauthorized access to municipal financial platforms and created fraudulent documentation connected to her duties. Investigators allege the actions

one-person-killed-in-tractor-trailer-collision-on-highway-1-near-lytton

One person killed in tractor-trailer collision on Highway 1 near Lytton

A man has died following a collision between two transport trucks on Highway 1 in the Fraser Canyon, a stretch of roadway heavily used by commercial drivers moving goods through British Columbia. The crash happened Monday morning on Tank Hill Bridge, north of Lytton, and is now the focus of a police investigation into whether criminal driving behaviour may have contributed. BC Highway Patrol says the collision occurred shortly before 9 a.m. when a northbound Kenworth truck hauling two empty flat-deck trailers struck a southbound Volvo pulling two enclosed trailers. The 49-year-old Volvo driver

new-westminster-police-respond-to-three-pedestrian-collisions-in-three-days

New Westminster police respond to three pedestrian collisions in three days

New Westminster police are urging drivers and pedestrians to take extra care after officers were called to three separate collisions involving people on foot over a three day period. The incidents, which occurred between November 22 and November 24, came at a time when shorter daylight hours are already increasing safety risks on city streets. The first collision was reported on November 22 in the 500 block of 6th Street, where a man told 9-1-1 he had been struck by a vehicle. Emergency crews from New Westminster Fire and Rescue Services and BC Emergency Health Services assessed the victim, wh

pedestrian-dies-after-collision-on-vedder-road-in-chilliwack

Pedestrian dies after collision on Vedder Road in Chilliwack

A woman has died after being struck by a pickup truck while crossing Vedder Road in Chilliwack on Tuesday afternoon. RCMP say the collision happened around 4:20 p.m. in a busy stretch of the roadway between the Highway 1 overpass and Luckakuck Way, an area often used by commuters and nearby commercial traffic. Investigators report that the 63-year-old pedestrian had crossed into the centre median before stepping back into the southbound lane, where she was hit by a 2007 GMC Sierra driven by a 63-year-old man. Police say the driver and several witnesses stopped immediately and attempted first a

Related News

One person killed in tractor-trailer collision on Highway 1 near Lytton

One person killed in tractor-trailer collision on Highway 1 near Lytton

A man has died following a collision between two transport trucks on Highway 1 in the Fraser Canyon, a stretch of roadway heavily used by commercial drivers moving goods through British Columbia. The crash happened Monday morning on Tank Hill Bridge, north of Lytton, and is now the focus of a police investigation into whether criminal driving behaviour may have contributed. BC Highway Patrol says the collision occurred shortly before 9 a.m. when a northbound Kenworth truck hauling two empty flat-deck trailers struck a southbound Volvo pulling two enclosed trailers. The 49-year-old Volvo driver

New Westminster police respond to three pedestrian collisions in three days

New Westminster police respond to three pedestrian collisions in three days

New Westminster police are urging drivers and pedestrians to take extra care after officers were called to three separate collisions involving people on foot over a three day period. The incidents, which occurred between November 22 and November 24, came at a time when shorter daylight hours are already increasing safety risks on city streets. The first collision was reported on November 22 in the 500 block of 6th Street, where a man told 9-1-1 he had been struck by a vehicle. Emergency crews from New Westminster Fire and Rescue Services and BC Emergency Health Services assessed the victim, wh

Pedestrian dies after collision on Vedder Road in Chilliwack

Pedestrian dies after collision on Vedder Road in Chilliwack

A woman has died after being struck by a pickup truck while crossing Vedder Road in Chilliwack on Tuesday afternoon. RCMP say the collision happened around 4:20 p.m. in a busy stretch of the roadway between the Highway 1 overpass and Luckakuck Way, an area often used by commuters and nearby commercial traffic. Investigators report that the 63-year-old pedestrian had crossed into the centre median before stepping back into the southbound lane, where she was hit by a 2007 GMC Sierra driven by a 63-year-old man. Police say the driver and several witnesses stopped immediately and attempted first a

Legals

Journalism code of ethics

© 2021 AKASH Broadcasting Inc.

MANAGED BY STRATWIT

useful links

Accessibility Plan

BC Children's Hospital