The BC NDP Government has been active to start 2024. Last week, the provincial budget was tabled, and a couple big changes are coming to the real estate market. Starting on April 1/24 there will be changes to the Property Transfer Tax, a new Home Flipping Tax. The Federal Government has also change the Captial Gain rule on Home Flipping. Any flipping financial gain will now be considered as "business income" and hence taxed on 100% of the flipping gain. Always something exciting happening in BC and Canadian Real Estate......stay tuned!
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