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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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Non-resident taxation on RRSP and RIF withdrawals outlined.

Today’s blog will focus on non-resident taxation on RRSP and RIF withdrawals, and the ways that these taxes can be reduced.

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Claiming Basement Renovation Costs

Are you planning on renovating your basement for rental purposes? If so, then start your drills and put on your hard hat because this week’s tax tip is all about claiming basement renovation costs!

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Are Website Costs Tax Deductible?

E commerce has taken the business world by storm. It is evident that creating a website is an ingredient to building a successful business. Learn how building your small business website can reduce your taxes.

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Are Meal Allowances Tax Deductible On Business Travels

Are you an employer who is wondering if meal allowances are tax-deductible? Better yet, are you an employee who is required to travel for work? Is your meal allowance tax-free? Learn the benefits and regulations towards food and meal taxes while traveling. Take a bite out of this week’s Tax Tip.

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Property management tips for non-resident owners

Our homes are our biggest investments – their ongoing protection and maintenance are crucial for long-term value. what happens if you’ve relocated unexpectedly? or if you own an investment property from afar? who will take care of the property in your absence? In these instances, it’s important to secure a property management team capable of … Continue reading Property management tips for non-resident owners

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Understanding Canadian tax shelters and their benefits.

What do you know about tax shelters in Canada? It may be associated with tax evasion, illegal schemes, or other bad practices – however, not all tax shelters are bad news! Learn more through this week’s Tax Tip Weekly!

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5 Tax Scams Small Business Owners Should Know

Every small business owner should beware of the tax frauds that are preying on their business. Tax scams are the demise of many small businesses and can lead to criminal investigations on tax evasion, identity theft, and much more. Find out the 5 tax scams that every small business owner should know.

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2015 Canadian Federal Budget – Tax Cuts and Reliefs

Tabled on the 21st of April, the 2015 Canadian Federal Budget while premised on fiscal austerity, looks to expand on existing benefits and tax reliefs for individuals, families, seniors and small business owners. Let’s take a look at how this impacts the varying demographic groups and what this may potentially mean for you.

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Are UN Employees Tax Exempt?

If you are a Canadian working for the United Nations, you may generally be exempt from taxation on any income earned from the UN. Depending on if you are a resident or non-resident of Canada, your tax filing obligations may differ. Want to learn more on UN employee tax exemption? Then this article is for … Continue reading Are UN Employees Tax Exempt?

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2015 Canadian Personal Tax Filing Deadline Extended

Struggling with finishing your income tax return? Rushing towards the April 30th cut-off? Well Canadians, there has been a human error – or some may see it as a human hero – which has extended the personal tax return filing deadline.

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