Capital Gains Taxes are Increasing
Posted on May 02, 2024 in Resources
TL;DR
- Current Taxation: Right now, 50% of your capital gains are taxable.
- New Proposal: The inclusion rate is set to jump to 66.67% for high-value gains and for all corporations and trusts.
- Effective Date: Mark your calendar for June 25, 2024.
Canada's 2024 federal budget is bringing significant changes to capital gains taxes. Let's dive into what thes...
Key Updates on Property Transfer Tax Exemptions in Vancouver
Posted on Mar 21, 2024 in Resources
Key Updates on Property Transfer Tax Exemptions in Vancouver
Significant changes to the Property Transfer Tax (PTT) exemptions have been announced, effective from April 1, 2024, and they're set to make a big impact on the BC real estate market.
First Time Home Buyers Exemption: The threshold for PTT exemption has been raised substantially. Previously...
Reminder: BC Speculation & Vacancy Tax 2024
Posted on Mar 20, 2024 in Resources
Reminder: BC Speculation & Vacancy Tax Declaration Deadline Approaching
If you're a homeowner in British Columbia, mark your calendars for the looming deadline of March 31, 2024. Why? Because it's the final call for declaring your exemption from the BC Speculation & Vacancy Tax. This isn't just any run-of-the-mill formality; it's a crucial step to e...
Elegant Living at Trafalgar Square: Alexandra Rd, Richmond, BC (Cambie West)
Posted on Mar 12, 2024 in Resources
Elegant Living at Trafalgar Square: Alexandra Rd, Richmond, BC (Cambie West)
Nestled amidst the vibrant community of Richmond's West Cambie, 226 9551 Alexandra Rd emerges as a beacon of elegance and comfort. This 3-bedroom, 2-bathroom residence, situated within the esteemed Trafalgar Square by Polygon, offers a refined lifestyle complemented by sere...
20% BC Home Flipping Tax
Posted on Mar 11, 2024 in Resources
Starting on January 1, 2025, The BC Home Flipping Tax will come into effect and its goal is to curb speculative buying and selling of residential property within a short period of time (and in this case, it's 2 years!). The aim is to cool off the housing market, stabilize housing prices and making homes more accessible to residents.
The full 20% ta...
Best Time To Sell Your Home in 2024
Posted on Mar 09, 2024 in Resources
In Vancouver's real estate market, timing is a critical factor for sellers aiming for maximum return. Conventional wisdom has long favoured the spring and autumn months as the ideal seasons for selling properties. However, the market behaviour in 2023 highlighted the impact of mortgage rate fluctuations and consumer confidence on real estate transa...
