B.C. Reg. 282/2024, deposited December 9, 2024, under the RESIDENTIAL PROPERTY (SHORT-TERM HOLDING) PROFIT TAX ACT [sections 59 and 102]. Order in Council 648/2024, approved and ordered December 9, 2024.

On the recommendation of the undersigned, the Lieutenant Governor, by and with the advice and consent of the Executive Council, orders that, effective January 1, 2025, the Interest Rate under Various Statutes Regulation, B.C. Reg. 386/92, is amended by adding the following section:

Interest rate under Residential Property (Short-Term Holding) Profit Tax Act

8 For the purposes of section 59 of the Residential Property (Short-Term Holding) Profit Tax Act, the rate of interest for each successive 3 month period beginning on January 1, April 1, July 1 and October 1 in every year is 3% above the prime lending rate of the principal banker to the Province on the 15th day of the month immediately preceding that 3 month period.

— B. BAILEY, Minister of Finance; L. POPHAM, Presiding Member of the Executive Council.

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