BC Government Targets ‘Profiteers’ With Legislation to Bring in Flipping Tax

BC Government Targets ‘Profiteers’ With Legislation to Bring in Flipping Tax
Finance Minister Katrine Conroy tables the budget as Premier David Eby looks on from the legislative assembly at the legislature in Victoria, on Feb. 22, 2024. The Canadian Press/Chad Hipolito
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British Columbia has tabled legislation to enact the home-flipping tax, charging 20 percent to those who sell their home within the first year.
Finance Minister Katrine Conroy told the legislature that the tax is aimed at speculators who use housing only to turn a quick profit, and it will make “profiteers think twice about a practice that inflates housing costs during a housing crisis.”