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Important Update: BC Home Flipping Tax – Effective January 1, 2025

As of January 1, 2025, the BC Home Flipping Tax is now in effect.

Key Points

The tax applies to income from sales of residential properties, presale contracts, or assignments that are owned for less than 730 days (2 years).

Properties bought before January 1, 2025 are also subject to the tax if they are sold on or after this date and held for less than two years.

Tax rate:
20% for sales within the first 365 days of ownership.
The tax rate gradually decreases after 365 days and is eliminated at 730 days (2 years).

Applies to all entities: This tax affects any person or entity (individual, corporation, partnership, or trust) selling property within BC, regardless of residency.

Exemptions:
Primary residences may be exempt from this tax under certain conditions. However, exemptions are subject to specific conditions and filing requirements.

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New property listed in Elgin Chantrell, South Surrey White Rock

I have listed a new property at 2998 147A ST in Surrey. See details here

Discover this beautifully maintained 7-bedroom, 4-bathroom home in the highly sought-after Heritage Trails neighborhood. Offering a traditional living & dining areas w/soaring high ceilings. The updated gourmet kitchen is a chef's dream, featuring granite countertops & stainless steel appliances, perfectly complemented by the cozy family room w/a welcoming fireplace.The main level also includes a convenient home office, laundry room & an updated powder room. Upstairs, the spacious primary bedroom boasts a spa-inspired ensuite, three additional bedrooms, ideal for family living. Modern updates throughout include new lighting, flooring & paint.The lower level offers flexibility with 2 bedroom suite which could be a 3 bedroom suite. Wonderful shopping & walking trails near by.

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I have sold a property at 60 2533 152 ST in Surrey

I have sold a property at 60 2533 152 ST in Surrey on Dec 20, 2024. See details here

Discover the charm and elegance of Bishop's Green, an exclusive collection of 120 rancher-style townhomes nestled in the heart of South Surrey. Ideally situated, this highly sought-after community is just steps from transit and the abundant shopping amenities of Peninsula Village.This beautifully maintained home boasts over 1,734 sq. ft. of bright, airy living space, perfectly designed for comfort and ease. The highly coveted Winchester plan features two spacious bedrooms, two bathrooms, and a generous living/dining area complemented by a lovely open kitchen – perfect for entertaining or casual meals. Tucked into a quiet corner of the complex, this unit enjoys a peaceful setting is the perfect place to relax, unwind, and enjoy the next chapter of your life.

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New property listed in Sunnyside Park Surrey, South Surrey White Rock

I have listed a new property at 60 2533 152 ST in Surrey. See details here

Discover the charm and elegance of Bishop's Green, an exclusive collection of 120 rancher-style townhomes nestled in the heart of South Surrey. Ideally situated, this highly sought-after community is just steps from transit and the abundant shopping amenities of Peninsula Village.This beautifully maintained home boasts over 1,734 sq. ft. of bright, airy living space, perfectly designed for comfort and ease. The highly coveted Winchester plan features two spacious bedrooms, two bathrooms, and a generous living/dining area complemented by a lovely open kitchen – perfect for entertaining or casual meals. Tucked into a quiet corner of the complex, this unit enjoys a peaceful setting is the perfect place to relax, unwind, and enjoy the next chapter of your life.

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I have sold a property at 13095 21A AVE in Surrey

I have sold a property at 13095 21A AVE in Surrey on Dec 7, 2024. See details here

Very private home in Huntington Park featuring 4 beds/3 baths nestled on a 1/2 acre GD park like setting. This solid, well built home features an open kitchen, family room & eating area, perfect for entertaining. The main floor also includes a spacious living & dining area with a custom bar, ample sized office & bonus games room potentially used as a 5th bedroom. Generous sized laundry room finishes off the main floor. The upper floor offers a nicely appointed Primary Bedroom with an updated spa-like ensuite, WIC while the three secondary bedrooms are generous in size. Relax & unwind in the serene backyard oasis with your favourite beverage. Experience nature at its finest in your very private setting! This home exudes ownership pride & is perfect for growing family in a great location!

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New property listed in King George Corridor, South Surrey White Rock

I have listed a new property at 102 2511 KING GEORGE BLVD in Surrey. See details here

Just moments from the sandy shores of White Rock Beach & within walking distance of the vibrant shops & restaurants of Grandview Heights, Pacifica Retirement Residence offers the perfect mix of serenity and connection. Designed for those seeking a warm and engaging community, it provides endless opportunities to socialize and embrace an active lifestyle. This newly painted ground-floor home features one bedroom & one bathroom, ideal for comfortable and low-maintenance living. The large kitchen, complete with stainless steel appliances and granite countertops, flows seamlessly into a spacious living room. An in-unit storage space adds convenience, while the west-facing patio provides a sunny retreat for relaxing or enjoying peaceful moments outdoors. Call Sue for all the detail!

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Open House. Open House on Sunday, November 17, 2024 1:00PM - 2:30PM

Please visit our Open House at 13095 21A AVE in Surrey. See details here

Open House on Sunday, November 17, 2024 1:00PM - 2:30PM

Very private home in Huntington Park featuring 4 beds/3 baths nestled on a 1/2 acre GD park like setting. This solid, well built home features an open kitchen, family room & eating area, perfect for entertaining. The main floor also includes a spacious living & dining area with a custom bar, ample sized office & bonus games room potentially used as a 5th bedroom. Generous sized laundry room finishes off the main floor. The upper floor offers a nicely appointed Primary Bedroom with an updated spa-like ensuite, WIC while the three secondary bedrooms are generous in size. Relax & unwind in the serene backyard oasis with your favourite beverage. Experience nature at its finest in your very private setting! This home exudes ownership pride & is perfect for growing family in a great location!

Read

New property listed in Elgin Chantrell, South Surrey White Rock

I have listed a new property at 13095 21A AVE in Surrey. See details here

Very private home in Huntington Park featuring 4 beds/3 baths nestled on a 1/2 acre GD park like setting. This solid, well built home features an open kitchen, family room & eating area, perfect for entertaining. The main floor also includes a spacious living & dining area with a custom bar, ample sized office & bonus games room potentially used as a 5th bedroom. Generous sized laundry room finishes off the main floor. The upper floor offers a nicely appointed Primary Bedroom with an updated spa-like ensuite, WIC while the three secondary bedrooms are generous in size. Relax & unwind in the serene backyard oasis with your favourite beverage. Experience nature at its finest in your very private setting! This home exudes ownership pride & is perfect for growing family in a great location!

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