Eight New/Recent Government Regulations

Click the links below to review the eight recent regulations introduced by various levels of Government regarding real estate transactions in our Province.

Pre-purchase implications:

  1. Additional property transfer tax for foreign entities and taxable trustees
  2. Prohibition on the Purchase of Residential Property by Non-Canadians Act (Foreign Buyers Ban)
  3. Anti Flipping Tax rule ( general information only )
  4. No age restriction in strata corporations except 55+ (applicable to renters as well)
  5. No long term rental restriction in strata corporations (except short term rentals if municipal or strata bylaws prohibit)
  6. Home Buyer Rescission Period Regulation

 After purchase implications:

      7. Speculation and Vacancy Tax (provincial) 

      8. Underused Housing Tax (Federal)

If you have any questions, please feel free to give us a call.

MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.