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Flipping Houses? Here’s How The CRA Classifies Your Profits

house flipping in Canada

House flipping has become a popular way to build wealth in Canada, especially as real estate prices have surged. The basic idea – buy a property, renovate it, and sell it quickly for profit –  sounds simple. But from the Canada Revenue Agency’s (CRA) point of view, flipping can carry complex tax consequences, and you could end up with a surprising bill if you misunderstand how the profits are taxed. Read More

Written by MadanCA Team on July 7, 2025 @ 6:23 pm
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8 Ways to Reduce Taxes In Canada

With the due date for Canadian taxes quickly approaching, have you ever wondered “how can I reduce my taxes?”. Read further to learn about how you can save the right way.

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Payroll taxes for Canadians temporarily working in the U.S.

Are you a Canadian planning on temporarily working in the United States and are worried about how your payroll will be taxed? Learn about a strategy that will help you prevent double taxation and save your hard earned money along the way.

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How to Reduce Your Taxes on RRSP Withdrawals

Do you have a significant amount of money in your RRSPs and are concerned about the high tax you will have to pay once you liquidate them? Read more to learn a useful strategy to liquidate your RRSPs today without having to pay tax and grow your savings tax efficiently.

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Tax Implications on Real Estate By Allan Madan

Allan Madan presents, “Tax Implications of Real Estate” at the International Centre in Mississauga, Ontario.

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How can I get tax free benefits from my corporation?

Do you own a small corporation in Canada? Did you know that you could receive tax-free benefits from your corporation? In this video, I will highlight 3 types of tax benefits that you can get – A company car, medical expenses, and pension.

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Selling a U.S. vacation property/ Know the tax implications

Imagine, sipping a steaming cup of coffee while looking out onto your beachfront property. Imagine, the sun washing over your face in the dessert heat. Many Canadians did not have to as they flocked to buy vacation properties in the U.S when the Canadian Dollar was at an approximate par with the US dollar. However … Continue reading Selling a U.S. vacation property/ Know the tax implications

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How to Choose Your Next Tax Preparer

Tax season is fast approaching and in efforts to gain your business, tax preparers may promise you big refunds, some of which are valid and others that are red flags. Read further to learn about the things you should consider and what to watch out for.

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Trust No Accountant

Sanjeey Khatter, like many Canadians today, was in the dark as to how to file his taxes. Therefore he took on a tax preparer to assist him with his financial needs. What occurred after was an unfortunate mixture of poor judgment and severe carelessness.

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Filing Tax Returns for U.S. Citizens Living in Canada

Over 1 million US citizens are living in Canada. Yet, many of them are unaware of their tax filing obligations. Read more to learn about what you should do so that you will never have to miss a tax filing deadline again.

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Early tax preparation tips to avoid last-minute stress.

Are you frustrated during tax season trying to get all your receipts together? Your tax return can only be as organized and accurate as you prepare for it whether you are filing it yourself or with a professional. Here is what you can do now to get organized and make tax season easier.

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