Industry Update | Anti Flipping Tax

Anyone that sells a property that they have owned for less than 1 year (365 consecutive days) will be considered to be ‘flipping’ the property and will have any profits from the transaction taxed as business income.

There are exemptions to this rule, so if you’re curious about how this might affect you as a real estate buyer or seller, send us a message!

If you’d like any more information or have any real estate related questions, get in touch with Island Realm Real Estate at 250-382-6636

Come visit our modern office, designed to enrich your buying and selling experience, located at 102-3645 Tillicum Road, Victoria, BC.

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