New year brings new rules in B.C., including 20% home-flipping tax [Video]

A maximum 20-per-cent home-flipping tax is among new regulations taking effect in British Columbia as of Jan. 1, with a promised middle-income tax cut arriving in the coming months as well as a spring carbon tax increase.

Premier David Eby said Tuesday the middle-income tax cut he promised during last fall’s election campaign would help form the New Democrat government’s agenda in the new year.

“I have heard that you want our government to work harder to tackle the issues that you and your family are talking about around the kitchen table,” he said in a statement. “That is our focus for 2025 and beyond.”

Eby had promised economic development and the tax cut in a year-end interview with The Canadian Press earlier in December.

“The focus will be on growing our economy,” he said. “And, of course, affordability. British Columbians are going to see that middle-class tax cut.”

Eby …