-transparent-1729881430881.png){kind=spacer}
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.
Important Update: BC Home Flipping Tax – Effective January 1, 2025
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.