The government of British Columbia (BC), Canada has issued new guidance on the BC home flipping tax. The new tax will be levied from 1 January 2025 at a rate of 20% on net taxable income earned from a property owned for less than 365 days, with a reduction in the rate owned more than 365 days but less than 730 days according to the formula: Tax rate = 20% x [ 1 - ( (Days held - 365) / 365) ]. Taxable persons include individuals, corporations, partnerships, or trusts that sell or dispose taxa…