B.C. is aiming to crack down on home flipping in the province with a new measure that will tax home owners who resell their property within two years of purchasing it.
The home flipping tax was announced in Thursday’s 2024 budget and is set to come into play on Jan. 1, 2025.
If the legislation passes, it will tax home owners 20 per cent on properties sold within 365 days of purchase.
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