Curb Speculation and House Flipping
To reduce speculative demand in the marketplace and help to cool excessive price growth, a re-elected Liberal government will:
- Establish an anti-flipping tax on residential properties, requiring properties to be held for at least 12 months.
Canadians who encounter changes in life circumstances due to, for example, pregnancy, death, new jobs, divorce, or disability will be exempt from this policy. As this tax is introduced rules will be established to ensure that sellers subject to this tax are able to deduct legitimate investments in refurbishment.