Category: Tax
This article discusses an exemption relevant to property owners unexpectedly charged Spec Tax on bare lots in communities like Peachland, Penticton, and Lake Country.
The BC home flipping tax (the “Flipping Tax”) imposed under the Residential Property (Short-Term Holding) Profit Tax Act (the “Act”) took effect on January 1, 2025.
On March 4, 2025, it was announced that beginning in the 2026 taxation year the Speculation Tax rate will increase for all non-exempt property owners.
The latest expansion of the Speculation Tax has expanded the tax to many Okanagan communities along with other previously excluded communities.
Some good news for dealing with tax and estate planning for persons who own shares of a private company.
The Federal Government has introduced new changes to help certain business owners reduce their tax burden when they sell the shares of their active business corporation.