The Condo Flipping Tax: How the CRA Cracks down on Condo Flippers

housing real estate

Condo flipping tax and how the CRA cracks down on Condo flippers. The profits a taxpayer makes from flipping real estate are generally considered to be fully taxable as business income. The principal residence exemption does not apply to property flipping.

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The New TFSA Limit of $6000 Could Help You Save More

preparing taxes

The Tax-Free Savings Account (TFSA) is an account that does not apply taxes on any contributions, interest earned, dividends, or capital gains, and can be withdrawn tax free. This savings account is available to individuals aged 18 and older in Canada and can be used for any purpose.

Read moreThe New TFSA Limit of $6000 Could Help You Save More