British Columbia has introduced legislation to impose a 20% tax on home-flipping, targeting speculators who profit from quick property sales. The tax will apply to properties sold within the first year of ownership, with the rate decreasing to zero after 730 days.
Finance Minister Katrine Conroy stated that the tax aims to discourage practices that drive up housing costs during a housing crisis. It is estimated that the tax will affect around 4,000 home sales annually.
British Columbia Tax Home-Flipping Speculators Housing Crisis
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