Skip to Main content

21.11°^C Vancouver

News Entertainment Sports 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

Canadian Armed Forces on standby as B.C. wildfires displace thousands in Okanagan

The Canadian Armed Forces have been placed on standby to assist communities affected by wildfires in British Columbia, as thousands of residents in the Okanagan region have been forced from their homes. Defence Minister David McGuinty said military assistance will be deployed once the B.C. government makes a formal request for troops to operate on the ground. McGuinty said the provincial government submitted a formal request over the weekend through Emergency Management Minister Eleanor Olszewski. Federal assistance has since been approved to help provide accommodation and temporary shelter fo

vancouver-police-seek-public-help-identifying-suspect-in-kitsilano-assault

Vancouver police seek public help identifying suspect in Kitsilano assault

Vancouver police are asking the public to help identify a man accused of assaulting a 73-year-old man in Vancouver’s Kitsilano neighbourhood on July 31. According to Vancouver Police Department, officers were called after the two men became involved in a verbal altercation. Police allege the suspect had been yelling at passersby before the victim approached him and asked him to stop and leave the area. Investigators allege the suspect then pushed the victim to the ground. The 73-year-old suffered head injuries in the incident, police said. Police describe the suspect as a Caucasian man with

b-c-first-nations-leaders-urge-governments-to-halt-proposed-west-coast-pipeline

B.C. First Nations leaders urge governments to halt proposed West Coast pipeline

Several First Nations leaders in British Columbia are calling on Prime Minister Mark Carney and Alberta Premier Danielle Smith to immediately stop efforts to advance a proposed West Coast oil pipeline. In a letter to Carney and Smith, the Union of British Columbia Indian Chiefs opposed the project, saying further expansion of the oil industry could contribute to climate change and increase the risks associated with natural disasters. The First Nations leaders allege that governments have not engaged in meaningful consultation with them. They say the proposed pipeline route and potential invest

CanadaAug 10, 2026

Montreal man charged over alleged threats against Prime Minister Carney

A 51-year-old Montreal man, Mark Porlier, has been charged with allegedly making threats against Prime Minister Mark Carney. According to the RCMP, Porlier made a violent and threatening comment about the prime minister in an email sent to a Canadian senator and several other people. The RCMP’s federal policing unit began investigating on Aug. 5 after receiving a complaint. Porlier was subsequently taken into custody and appeared in a Montreal court on Aug. 8. Police charged him under Section 264.1 of the Criminal Code with uttering threats to cause death or bodily harm. The RCMP said statem

liberal-mp-shaun-chen-announces-resignation-citing-health-concerns

CanadaAug 10, 2026

Liberal MP Shaun Chen announces resignation, citing health concerns

Liberal MP Shaun Chen has announced he will resign his seat in the House of Commons, citing health concerns following a car accident last year. Chen has represented Scarborough North since 2015. He said he plans to leave Parliament by the end of this month. His resignation comes as several federal MPs from major parties have left office before the end of their terms this year. Three federal byelections are scheduled for Aug. 31 in ridings previously represented by former Liberal ministers Jonathan Wilkinson and Nathaniel Erskine-Smith, and Conservative MP Richard Martel. The federal government

Related News

Canadian Armed Forces on standby as B.C. wildfires displace thousands in Okanagan

Canadian Armed Forces on standby as B.C. wildfires displace thousands in Okanagan

The Canadian Armed Forces have been placed on standby to assist communities affected by wildfires in British Columbia, as thousands of residents in the Okanagan region have been forced from their homes. Defence Minister David McGuinty said military assistance will be deployed once the B.C. government makes a formal request for troops to operate on the ground. McGuinty said the provincial government submitted a formal request over the weekend through Emergency Management Minister Eleanor Olszewski. Federal assistance has since been approved to help provide accommodation and temporary shelter fo

Vancouver police seek public help identifying suspect in Kitsilano assault

Vancouver police seek public help identifying suspect in Kitsilano assault

Vancouver police are asking the public to help identify a man accused of assaulting a 73-year-old man in Vancouver’s Kitsilano neighbourhood on July 31. According to Vancouver Police Department, officers were called after the two men became involved in a verbal altercation. Police allege the suspect had been yelling at passersby before the victim approached him and asked him to stop and leave the area. Investigators allege the suspect then pushed the victim to the ground. The 73-year-old suffered head injuries in the incident, police said. Police describe the suspect as a Caucasian man with

B.C. First Nations leaders urge governments to halt proposed West Coast pipeline

B.C. First Nations leaders urge governments to halt proposed West Coast pipeline

Several First Nations leaders in British Columbia are calling on Prime Minister Mark Carney and Alberta Premier Danielle Smith to immediately stop efforts to advance a proposed West Coast oil pipeline. In a letter to Carney and Smith, the Union of British Columbia Indian Chiefs opposed the project, saying further expansion of the oil industry could contribute to climate change and increase the risks associated with natural disasters. The First Nations leaders allege that governments have not engaged in meaningful consultation with them. They say the proposed pipeline route and potential invest

Legals

Journalism code of ethics

© 2021 AKASH Broadcasting Inc.

MANAGED BY STRATWIT

useful links

Accessibility Plan

Broadcasting Notice of Consultation

BC Children's Hospital