British Columbia’s new home flipping tax will officially come into effect starting on January 1st. This tax is aimed at curbing speculative real estate practices in the province. Home flipping, where a property is bought and quickly resold for a profit, has been a growing concern in B.C.’s housing market. The tax will apply to properties that are bought and resold within a short period of time, typically within a year. The exact details of the tax, including the rate and exemptions, have not been disclosed yet. This measure is part of the government’s efforts to address housing affordability and ensure a more stable housing market in British Columbia.