Article Posted date
22 February 2024
British Columbia’s Finance Minister Katrine Conroy delivered the province’s 2024 budget on February 22, 2024. The budget anticipates a deficit of $5.9 billion for 2023-24 and projects deficits of $7.9 billion for 2024-25 and $7.8 billion for 2025-26. Although the budget does not include any new changes to the corporate or personal tax rates, it introduces a new home flipping tax for B.C. properties sold on or after January 1, 2025, and increases certain thresholds for the property transfer tax exemptions, among other changes.
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