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B.C. will implement a new 20% 'flipping tax' on homes: What you need to know (bc.ctvnews.ca)

submitted 2 years ago by grte@lemmy.ca to c/britishcolumbia@lemmy.ca

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[–] AnotherDirtyAnglo@lemmy.ca 1 points 2 years ago

Really run-down houses will have lots of room for profit as they buy them for cheap and invest in renovating them. Taking 20% off the top just alters the economics of it, and leaves it for someone who would buy the house to repair/renovate it so they can live in it.

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