The BC Home Flippin Tax is a 20% tax on the gain from the sale of property within a one-year time horizon and a pro-rated tax on sales up to within a two-year period.
The tax will apply to both properties and assignments of contracts and is in addition to any GST or Property Transfer Tax incurred from the sale of the property.
Exemptions will be available for certain life circumstances that might motivate the sale of a property within two years, including for added supply through the creation of rental accessory dwelling units.
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