1 on 1 with BCREA CEO Trevor Koot

Featuring BCREA CEO Trevor Koot, this monthly video series offers a unique look into both BCREA and the real estate and housing sectors at large.

A Place to Share Ideas

Once a month, BCREA CEO Trevor Koot steps in front of the camera to discuss housing and real estate topics relevant to both REALTORS® and the public. These videos are available on our YouTube channel playlist, LinkedIn, Facebook, and Instagram.

Check out the series below.

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What You Need to Know About the BC Home Flipping Tax

January 21, 2025

The BC Home Flipping Tax went into effect on January 1, 2025. But why has this tax been introduced and what are its implications? In this video, BCREA CEO Trevor Koot offers the full breakdown.

Transcript

As of January 1, 2025, there is a new housing tax in British Columbia: The BC Home Flipping Tax. If you’re getting deja vu, there’s a simple reason for that.

In January 2023, the Government of Canada launched a federal property flipping tax, which is still in effect. So, if you’re in BC and renovating a home with the intention of selling it, you now have two flipping taxes to consider.

So, what’s the point of this new provincial tax? And what are its implications?

Here’s the gist: The new BC tax targets income from the sale of residential properties, presale contracts, or assignments held for less than two years – though there are some key exemptions. The tax rate starts at 20 per cent for sales within the first 365 days of ownership, then gradually decreases until it’s eliminated at 730 days, or two years.

The BC Government’s stated goal for the tax is to curb speculation at a time when many are struggling to afford appropriate shelter. That said, many doubt whether it can achieve that goal.

A recent BC Real Estate Association Market Intelligence report noted that flipping activity is an insignificant share of overall sales in the province, meaning the new tax will have minimal impact on prices. The report also warned that the tax could cause some sellers to delay listing their homes and lead to even tighter market conditions.

It’s with that research in mind that BCREA’s Government Relations team recommended a repeal of the tax in the lead-up to the 2024 BC election.

Like it or not, this new tax is now in effect, and both REALTORS® and the public need to be aware of the rules. For more on this and all things BC real estate, visit the BCREA website at bcrea.bc.ca.

Past Videos

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May 20, 2025 – What’s Stopping BC From Building More Homes?

April 22, 2025 – Changing the Conversation About “Fixing” Housing Affordability

March 18, 2025 – How BCREA Advocates for a Better Housing Ecosystem

February 18, 2025 – Drug Home Remediation: Why BC Needs New Standards

January 21, 2025 – What You Need to Know About the BC Home Flipping Tax

December 17, 2024 – What to Expect for the BC Real Estate Sector in 2025

November 19, 2024 – How to Be the Voice of 26,000+ REALTORS®

October 22, 2024 – Radon Awareness: What Every BC Homeowner Needs to Know

September 17, 2024 – Three Key Housing Issues for the 2024 BC Election

August 20, 2024 – Why Canadian Housing Needs Speculators

July 23, 2024 – Guiding Success: The Vital Role of Managing Brokers

June 25, 2024 – The Need for Innovation in Canadian Real Estate

May 22, 2024 – BCREA CEO Trevor Koot on Collaboration in Canadian Housing

April 18, 2024 – BCREA CEO Trevor Koot on Accessibility and Affordability

March 22, 2024 – BCREA CEO Trevor Koot Reflects on State of Housing in BC

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1 on 1 with BCREA CEO Trevor Koot

A Place to Share Ideas

Past Videos

1 on 1 with BCREA CEO Trevor Koot

A Place to Share Ideas

Past Videos

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