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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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Deferring capital gains tax on real estate sales explained

If you have a capital gain on the sale of real estate but have not received the entire payment, you can actually defer paying tax on that capital gain by using the capital gains reserve mechanism.

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Filing Taxes: Benefits for Those with Modest Incomes

Do you or someone you love live on a modest income? Find out how filing taxes can help! In todays’ world, paying for everyday essentials like heating bills and property taxes can add up quickly – especially for those with modest incomes. that’s why it’s so important to file a tax return each year. By … Continue reading Filing Taxes: Benefits for Those with Modest Incomes

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Claiming the Principal Residence Exemption

Have you sold your principal residence in the year? If yes, this article is for you. This article will look at the most commonly asked questions about the principal residence exemption.

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Top myths about the family tax cut debunked.

Are you confused about the family tax cut? Do you want to know the facts and myths? Read this blog to find out how the family tax cut can benefit you in this tax season

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Common taxable benefits for employees explained.

If you have a job and are concerned about paying too much in taxes then this article is for you.  In this article, we will review the two most common taxable benefits that are provided by employers to employees.

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Tax Tips for Canadians Investing in American Real Estate

One of the most significant road blocks for Canadian real estate investors looking to invest in Canada or the United States is the significant tax implications that may arise. That is why it is crucial that you utilize the best type of partnership structure for your situation. In this presentation, Allan Madan explains the tax … Continue reading Tax Tips for Canadians Investing in American Real Estate

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How Corporations are Taxed on Dividends Received

In this blog, I will explain how corporations are taxed on dividends received.

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How Is Investment Income Taxed?

Keep reading to learn about how investment income is taxed to you personally, and the tax deductions that you can claim to reduce the taxable amount of investment income.

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Reporting for Foreign Property Owned Outside of Canada

Are you confused about reporting foreign property owned outside of Canada? Reading this blog will give you all the information you need when filing taxes!

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2014 Year End Tax Tips for Business Owners

As part of our ongoing efforts to better engage and provide value to our clients, we regularly conduct informational tax webinars. Our webinar on February 20, 2015 focused on year end tax tips for business owners. Some of the topics covered in this webinar included:

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