Keeping it Real
Meet Jacquie McCarnan your host for Keeping it Real, the Vancouver and area residential real estate podcast that aims to demystify all things real estate in our crazy market.
Jacquie has been a licensed Realtor since 2016 and, in that time, has come across just about every scenario you can think of in our residential market. From hoarder homes to those for sale by owners to crazy strata situations and more, Jacquie provides real stories to help you navigate real estate in Vancouver and surrounding areas.
Each episode of Keeping it Real is short and to the point and provides you with great information about the topic discussed. Jacquie is always available to answer more in-depth questions and is happy to feature your own experience in future episodes.
Episodes also contain additional, non-real estate info about local businesses, experiences, and hidden gems around town that will make you sound like a local expert!
If you live in Vancouver or surrounding areas you know that the #1 thing people talk about is real estate (then the weather) if you want to sound knowledgeable and up to date on the real estate part listen weekly to hear topical issues that affect our market. We try to pick the most interesting and current issues to demystify each week and eagerly anticipate your input.
Join us every week for the very newest info on residential real estate in Vancouver and area.
Keeping it Real
8. Spec, Vacancy & Flipping Taxes What Do They Mean???
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In this episode of the 'Keeping it Real' podcast, Jacquie McCarnan delves into a fascinating discussion on the impact of emerging technologies on society, exploring the ethical considerations and potential challenges that lie ahead.
Jacquie dives into the challenges of responsible AI development and uncovers the speculation and vacancy taxes impacting homeowners, plus a new flipping tax coming in 2025 with a 20% hit on quick property sales. While addressing housing affordability, Jackie also delves into exemptions, unintended consequences, and realtor opposition.
Don't miss a beat —tune in now!
BC Gov Speculation and Vacancy Tax webpage: https://www2.gov.bc.ca/gov/content/taxes/speculation-vacancy-tax/exemptions-speculation-and-vacancy-tax/individuals/tenancy-requirements
BC Gov Flipping tax webpage:
https://www2.gov.bc.ca/gov/content/taxes/income-taxes/bc-home-flipping-tax
What was covered:
- (00:50) BC taxes (Speculation Tax, Vacancy Tax, and new BC Flipping Tax).
- (01:14) Speculation on the BC government's aim to make housing more affordable.
- (01:53) Overview of Speculation and Vacancy Tax, requiring yearly declarations.
- (03:21) Statistics on revenue generated from the Speculation and Vacancy Tax.
- 05:37 - Example of tax exemption for a house co-owned by spouses with parents living in it.
- (08:16) Introduction to the new BC Flipping Tax starting January 1, 2025.
- (08:29) Explanation of the Flipping Tax targeting quick property sales.
- (15:29) Noting exemptions to the Flipping Tax, including divorce or job relocation.
- (17:23) Long-term goal to make housing affordable in British Columbia.
- (18:08) Promotion of a local venue, the Polygon Gallery in North Vancouver.
- (19:03) Book recommendation: "Demon Copperhead" by Barbara Kingsolver.
