BC Home Flipping Tax Encourages Long-Term Ownership

The BC home flipping tax applies to profits from selling residential properties owned for less than 730 days, effective January 1, 2025. It targets short-term property holding and is separate from federal tax rules. The tax rate is 20% for sales within 365 days, decreasing until 730 days when it no longer applies. Exemptions include primary residence deductions and certain related-person gifts. Filing a separate tax return is required if subject to the tax.