B.C.’s home flipping tax will come into effect in January

CHILLIWACK — Penalties for flipping homes in British Columbia will come into effect in the new year.
Starting January 1, 2025, the B.C. home-flipping tax will be in place to discourage investors from buying homes in order to take advantage of the housing market and turn a quick profit.
People who buy their homes and sell them within the following two years will be subject to the tax, which will be based on the sellers tax income minus the primary residence deduction.
There will be exceptio