Dividend 15 Split Corp T.DFN

This is a start...

[flamingogold]

Since the topic on real estate was recently discussed...

"The BC home flipping tax will apply to income from the sale of property that was owned for less than 2 years. The tax rate will be highest for those who owned properties for the shortest period and will decline the longer the property is owned. The tax rate will be 20 percent for income earned from properties sold within 365 days of purchase"

Now, will Doug follow and help to improve the housing affordability crisies?

https://www2.gov.bc.ca/gov/content/taxes/income-taxes/bc-home-flipping-tax

[ABP123]

The title should say "This Is The Start"  of slowly eliminating the Capital Gains Free Income on primary home ownership.  2 Years will become 3 years, will become 4 years, and so on.  1 Year is a flip.  2 Years might be a marriage gone wrong. 3 years could be a work transfer, 4 years could be financial trouble, etc. Not saying there is anything wrong with the "

[flamingogold]

There are exemptions including the below. There is no "perfect" solution. This new law will be the heaviest blow to flippers. It might even help in the rental market as specu-vestors will need to hang on to their properties for longer. Exemptions: Separation or divorce Death Disability or illness Relocation for work Involuntary job loss Change in household membership

[ABP123]

Thanks for posting the exception list for me. It will be interesting to see if Ontario does something similar.