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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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How to defer capital gains tax with section 85 rollover

If section 85 didn’t exist what would happen? Without the rollover, a sole proprietor would sell their assets to a corporation for current market value instead of initial purchase price. This would result in the proprietor paying taxes on the assets difference in value. The sole proprietor is only trying to transferhis or her own … Continue reading How to defer capital gains tax with section 85 rollover

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Writing off taxes for home renovation expenses made easy.

Are you a senior or eligible for the disability tax credit? Are you looking to renovate your home to make it more accessible for you and your loved ones? Well, we have just the tax strategy for you!

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Charitable Donation Tax Credit

Are you looking to make a charitable donation? Well this tax tip might be just for you!

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Minimizing taxes through tax loss selling strategies.

Do you own stocks, bonds, mutual funds, or other marketable securities? Are you looking to get a tax advantage from selling money losing investments? Tax-loss selling may just be the tax strategy that is right for you!

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Making your home mortgage tax-deductible in Canada explained

Want to know how to make your mortgage interest tax deductible?  Find out out how to write-off your mortgage interest expenses for tax saving purposes!

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How to Prepare Final Return of A Deceased Person in Canada

INTRODUCTION This article provides an in-depth review of PREPARING THE FINAL RETURN OF A DECEASED PERSON in Canada, including taxation of: Dividends & interest Employment income Old Age Security Canada or Quebec Pension Benefits Pension Income Splitting Employment Insurance Investment Income Rental Income Death Benefit RPP, RRSP, RRIF Tax Deductions When an individual passes away, … Continue reading How to Prepare Final Return of A Deceased Person in Canada

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Why Canada Needs Corporate Tax Reform

Much of the political rhetoric surrounding the Liberal Party’s win in the Canadian Federal election was centred on this notion of ‘change’, a promise of progressive changes that Canada needs in order to escape from the shadows of its Conservative predecessor. While looming issues such as the United Nations Climate Change Conference, the Trans Pacific … Continue reading Why Canada Needs Corporate Tax Reform

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Tax Benefits of Corporate Class Funds

Corporate class funds can be a very tax-efficient investment vehicle, particularly in Canada. Investing in these funds and holding them inside of a corporation can protect and defer you from significant tax implications.

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Tax guide for legal representatives of deceased members.

The death of a loved one is often a trying time for family and friends. This could make filing a final tax return for the deceased a daunting, emotional and often even frustrating task for family and friends still coping with the tragic loss. With that being said, this article is meant to ease this … Continue reading Tax guide for legal representatives of deceased members.

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Saving on primary residence converted to rental property

When you start renting out your primary residence, it’s important to be aware of the various tax and interest implications. You can still deduct your mortgage and home equity line of credit interest. Continue reading to find out how.

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