New BC Home Flipping Tax

The new BC home flipping tax will apply on the profit earned from the sale of property located in BC if the property was owned for less than 730 days.

BC home flipping tax – Province of British Columbia

Who is affected?

• Sellers of BC property where the sales occur on or after January 1, 2025, for which the property has been owned for 730 days or less.
• Some exemptions apply depending on the location of the property, the type of entity selling the property and the situations surrounding the sale.

How much is this additional tax?

• Property sold within 365 days: 20% tax rate on net taxable income from sale.
• Sales between 366 and 730 days:  Graduated rate scale – the tax rate will decrease as the sale date approaches the 730 day mark.
• Property sold after 730 days:  No tax is applied.

What are the filing requirements?

If this tax applies to you, a return must be filed within 90 days of the property sale, unless an exemption applies.

Here is the link to file your return with the Ministry of Finance of BC:

File a return for the BC home flipping tax – Province of British Columbia

Need assistance?

If you think you may be subject to this new tax or have any questions in regards to your transactions, please reach out to us for further discussion.

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