By Mark Lewis, Jay Winters and Alana Walter ( June 3, 2024, 2:48 PM EDT) -- The B.C. government plans to introduce a 20 per cent tax on income earned from the sale of a residential property within 730 days of acquisition (the Flipping Tax). The tax, announced in the 2024 budget and subject to legislative approval, will be imposed under the Residential Property (Short-Term Holding) Profit Tax Act. It is scheduled to take effect on Jan. 1, 2025, and will be retroactive to the 2023-24 tax year. The B.C. government estimates that the Flipping Tax will generate $43 million of revenue in its first year....