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Starting January 2023, the Anti Flipping Tax will be in effect for homes which apply. This new rule applies to flipped residential property dispositions that occur on or after January 1, 2023.

Starting in 2023, for the 2022 tax year, an annual tax will apply on the taxable value of a vacant or underused residential property that is directly or indirectly owned by a non-resident non-Canadian.

In order to curb rising home prices and prevent money from being "parked" in Canada, the government banned foreign buyers on January 1, 2023. Some exemptions applied such as permanent residents, temporary residents and students.

Original Foreign Buyer Ban

View CMHC's article of the original January release.

We wanted to let you know about the new First Home Saving Account, and remind you of the Home Buyer's Amount Tax Credit, in addition to, other valuable home owner and buyer rebates and incentives.

The City of Vancouver, BC Canada requires that Vancouver homeowners submit a yearly declaration to determine if their property is subject to the Empty Homes Tax. Any properties which are deemed empty or declared empty, will be subject to an empty home tax.

BC’s new Home Buyer Rescission Period (HBRP) for residential real estate property takes effect on January 3, 2023.

We're proud to be among the top real estate agents again at Dexter Realty! We love helping our clients buy and sell homes and always strive to offer the best service and advice. We'd like to thank all our clients for your support, business and referrals. We look forward to continuing our relationship as your trusted REALTORS®.

On November 24, 2022, the BC government passed Bill 44. It changed restrictions around rentals and ages of owners and tenants, under the new Building and Strata Statutes Amendment Act.