Are you a property flipper in BC? You might want to pay attention to the new property flipping tax introduced by the government. This tax, officially known as the residential property (short-term holding) profit tax act, is shaking up the real estate market.

Are you a property flipper in BC? You might want to pay attention to the new property flipping tax introduced by the government. This tax, officially known as the “residential property (short-term holding) profit tax act,” is shaking up the real estate market.

The flipping tax is aimed at individuals who buy and sell properties within a short period for profit. If you fall into this category, you may be surprised by the impact this tax will have on your bottom line.

The government’s goal with this tax is to deter speculative activity in the real estate market and stabilize prices for homebuyers. So, whether you’re a seasoned property flipper or just dipping your toes into the real estate game, it’s time to understand how this new tax will affect you. Stay informed and stay ahead in the BC real estate market.

Featured Articles

Penticton Vees Dog Race

Penticton Vees Dog Race

The Penticton Vees are hosting their annual Pucks N' Paws night on Saturday, February 17th, and they have something special planned for this year's event. During the first intermission of the game against the West Kelowna Warriors, the Vees will be holding their first...

Penticton Man Strikes it Rich with $100K Lotto 6/49 Win

Penticton Man Strikes it Rich with $100K Lotto 6/49 Win

In an incredible stroke of luck, a Penticton man has become $100,000 richer after winning the Lotto 6/49. Steven Wilson, a local resident, is now celebrating his life-changing win.The thrilling news came as a surprise to Wilson, who purchased the winning ticket at a...

Penticton Man Strikes it Rich with $100K Lotto 6/49 Win

Last Passenger Train Service Departs from Penticton in 1964

In 1964, Penticton bid farewell to its beloved passenger train service. This historic event marked the end of an era, leaving behind memories and stories for generations to come.Sixty years ago, on January 17th, locals from Summerland boarded the final train bound for...

Penticton Man Strikes it Rich with $100K Lotto 6/49 Win

Special events guide: Feb. 1-6, 2024

Thursday, February 1- McLeod and Schneiderat Lawyers presents the 5th annual Snakebite Film Festival. The festival kicks off with a screening of the film "Hairspray" at Landmark Cinemas at 7 p.m. After the screening, there will be a Snakebite Gala at The Black Antler...

Penticton Man Strikes it Rich with $100K Lotto 6/49 Win

Purple Skies Over the South Okanagan

Early Wednesday morning, residents of the South Okanagan woke up to a breathtaking sight - purple skies. The stunning phenomenon captured the attention of many, including Tammie Greig, a Kelowna woman who snapped photos of the purple haze from her Black Mountain...

You might also like

Penticton Vees Dog Race

Penticton Vees Dog Race

The Penticton Vees are hosting their annual Pucks N' Paws night on Saturday, February 17th, and they have something special planned for this year's event. During the first intermission of the game against the West Kelowna Warriors, the Vees will be holding their first...

Penticton Man Strikes it Rich with $100K Lotto 6/49 Win

Penticton Man Strikes it Rich with $100K Lotto 6/49 Win

In an incredible stroke of luck, a Penticton man has become $100,000 richer after winning the Lotto 6/49. Steven Wilson, a local resident, is now celebrating his life-changing win.The thrilling news came as a surprise to Wilson, who purchased the winning ticket at a...

Powered By

dieno digital