from BC Government:
BC home flipping tax
Last updated on April 30, 2024
The proposed BC home flipping tax applies to income from the sale of a property, including presale contracts, in British Columbia if the property was owned for less than 730 days.
The tax is imposed under the Residential Property (Short-Term Holding) Profit Tax Act, which takes effect starting January 1, 2025, subject to approval by the legislature.
Property purchased before the tax’s effective date may be subject to the tax if sold on or after January 1, 2025 and owned for less than 730 days unless an exemption applies.
The BC home flipping tax is separate and distinct from the federal property flipping rules and is not harmonized or administered with the federal or B.C. income tax. It is intended to discourage short-term holding of property for profit as part of the Homes for People Plan (PDF, 5.93MB).
