The B.C. government announced a 20 per cent tax on profit made by people who sell properties two years or less after purchasing it.
The tax will slide to zero between 366 and 730 days after the acquisition.
B.C. Finance Minister Katrine Conroy announced the tax as one of the province’s latest tools to try and curb speculation over housing, in a province where many struggle to afford appropriate shelter.
“Prices went up as governments stepped back and speculators moved in,” said Conroy during her speech presenting her latest budget in the Legislature.
“That’s why we’re bringing in a home-flipping tax as our latest measure to crack
