British Columbia Real Estate Association (BCREA) Chief Economist Brendon Ogmundson has been re-appointed as a member of the Province of British Columbia’s Economic Forecast Council until July 2023. Ogmundson was invited to extend his current term by Minister of Finance Carole James. “COVID-19 has had unprecedented impacts on BC’s economy,” says Ogmundson. “Now more than ever, I welcome …
BC’s Budget 2020 offers some new investments to assist homeowners and their communities, but falls short of substantial changes to improve housing affordability. We’re pleased by the promise of an additional $419 million investment over three years to support CleanBC for home and workplace electric vehicle charging stations and new pilot programs to further reduce …
Budget 2019 introduced few changes for real estate, but four new developments caught BCREA’s attention: Taxation clarityWhen the budget bill receives Royal Assent clarifying changes will be made to the following statutes: Property Transfer Tax Act, Taxation (Rural Area) Act and Income Tax Act around information sharing among these statutes, and Speculation and Vacancy Tax Act to exempt …
Housing affordability is a central focus of the provincial budget announced on February 20. The government’s 30-point “Homes for BC” plan outlines their approach. Some of the key points of the plan include: Introducing a “speculation tax,” charging residential property owners who don’t pay income tax in BC, at an annual rate of 0.5 per …
Victoria, BC – February 20, 2018. The British Columbia Real Estate Association (BCREA) calls on the government to introduce transitional rules for all transactions impacted by the new tax measures introduced in Budget 2018. The new tax measures come into effect on February 21, 2018. The Property Transfer Tax (PTT) increase to 5 per cent …
The British Columbia Real Estate Association acknowledges that our head office is located on the unceded traditional territories of the Coast Salish Nations of Sḵwx̱wú7mesh (Squamish), səl̓ilwətaɁɬ (Tsleil-Waututh), and xwməθkwəy̓əm (Musqueam). We also acknowledge the other 195 First Nations in British Columbia, as these are the lands we each call home.
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