The BC Home Flipping Tax, introduced under the Residential Property (Short-Term Holding) Profit Tax Act, came into effect on January 1, 2025. This tax applies to profits made from the sale of properties owned for less than 730 days and is designed to discourage speculative property sales, supporting long-term housing stability in British Columbia. This tax is distinct from federal property flipping […]
General Information
BC Home Flipping Tax
This info was originally provided by www.bcrealestatelawyers.com Tony Spagnuolo British Columbia Home Flipping Tax The B.C. Government has recently proposed a home flipping tax (the “Home Flipping Tax”) that will take effect starting January 1, 2025, subject to approval by the legislature. This tax, when passed, will apply to income from the sale of a […]
Great news on inflation
Canadian Inflation Falls to 2.9% in January, Boosting Rate Cut Prospects The Consumer Price Index (CPI) rose 2.9% year-over-year in January, down sharply from December’s 3.4% reading. The most significant contributor to the deceleration was a 4% decline in y/y gasoline prices, compared to a 1.4% rise the month before (see chart below). Excluding gasoline, […]
Why an independent mortgage broker
In the realm of securing a mortgage, the decision to partner with a mortgage broker versus a traditional bank can make all the difference in your financial journey. Let’s delve into the reasons why entrusting your mortgage needs to a broker might be your smartest move. 1. Access to a Diverse Lender Network One of […]
The Bank of Canada Held Rates Steady and Took A More Neutral Tone
It was widely expected that the Bank of Canada would maintain its key policy rate at 5% for the third consecutive time. It will continue to sell government securities (quantitative tightening) to normalize its balance sheet. Market participants weighed and measured each word of the BoC press release and assessed that the Bank took a […]