Spencer Kumo PREC* RE/MAX Award Winning Burnaby Realtor Spencer Kumo PREC* RE/MAX Award Winning Burnaby Realtor Phone: 778-981-0188 SpencerKumo@gmail.com

New BC Housing Rule Update March 2024

Dated: February 24 2024

Views: 57

🏡 BC Housing Measures Update! 🏠

The BC Budget 2024 introduces new housing measures, including the BC Home Flipping Tax and Property Transfer Tax (PTT) exemptions, effective January 1, 2025. 💼

Greater Vancouver REALTORS® (GVR) is currently reviewing these changes. Stay tuned for updates! 📰💬

BC Home Flipping Tax: 🏡💰

  • Tax applies to residential properties sold within 2 years of purchase.
  • Rate varies; 20% within 365 days, declining to 0% at 730 days.
  • Exemptions for various circumstances including separation, death, and relocation.

PTT Exemptions: 📝🏠

  • First-time homebuyers exempt up to $500k on homes worth up to $835k.
  • Purpose-built rentals with 4+ units exempt from PTT until 2030.

More exemptions to be announced! 🎉

Stay informed with GVR for detailed insights and analysis. 📊🔍

#BCHousing #HomeFlippingTax #PTTExemptions #RealEstateNews #GVR #BCBudget2024 🏡💼

 

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Spencer Kumo

Spencer Kumo Personal Real Estate Corporation 🇯🇵 | Award-Winning REMAX Crest Realtor | Vancouver & Burnaby Real Estate Expert As a dedicated and award-winning Realtor with REMAX Crest, I specia....

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