October 16, 2023
Effective January 1, 2023, new rules aimed to prevent house-flipping may apply to the sale of your home. A new rule will deem Canadian residential properties sold by taxpayers who held the properties less than 365 days to be a “flipped property”, unless the taxpayer can establish that they disposed of the property due to:
October 16, 2023
Effective January 1, 2023, new rules aimed to prevent house-flipping may apply to the sale of your home. A new rule will deem Canadian residential properties sold by taxpayers who held the properties less than 365 days to be a “flipped property”, unless the taxpayer can establish that they disposed of the property due to:
October 12, 2023
Effective January 1, 2023, new rules aimed to prevent house-flipping may apply to the sale of your home. A new rule will deem Canadian residential properties sold by taxpayers who held the properties less than 365 days to be a “flipped property”, unless the taxpayer can establish that they disposed of the property due to:
October 09, 2023
Effective January 1, 2023, new rules aimed to prevent house-flipping may apply to the sale of your home. A new rule will deem Canadian residential properties sold by taxpayers who held the properties less than 365 days to be a “flipped property”, unless the taxpayer can establish that they disposed of the property due to:
October 04, 2023
Effective January 1, 2023, new rules aimed to prevent house-flipping may apply to the sale of your home. A new rule will deem Canadian residential properties sold by taxpayers who held the properties less than 365 days to be a “flipped property”, unless the taxpayer can establish that they disposed of the property due to:
September 21, 2023
Effective January 1, 2023, new rules aimed to prevent house-flipping may apply to the sale of your home. A new rule will deem Canadian residential properties sold by taxpayers who held the properties less than 365 days to be a “flipped property”, unless the taxpayer can establish that they disposed of the property due to:
September 11, 2023
Effective January 1, 2023, new rules aimed to prevent house-flipping may apply to the sale of your home. A new rule will deem Canadian residential properties sold by taxpayers who held the properties less than 365 days to be a “flipped property”, unless the taxpayer can establish that they disposed of the property due to:
September 07, 2023
Effective January 1, 2023, new rules aimed to prevent house-flipping may apply to the sale of your home. A new rule will deem Canadian residential properties sold by taxpayers who held the properties less than 365 days to be a “flipped property”, unless the taxpayer can establish that they disposed of the property due to:
September 05, 2023
Effective January 1, 2023, new rules aimed to prevent house-flipping may apply to the sale of your home. A new rule will deem Canadian residential properties sold by taxpayers who held the properties less than 365 days to be a “flipped property”, unless the taxpayer can establish that they disposed of the property due to:
January 26, 2023
Effective January 1, 2023, new rules aimed to prevent house-flipping may apply to the sale of your home. A new rule will deem Canadian residential properties sold by taxpayers who held the properties less than 365 days to be a “flipped property”, unless the taxpayer can establish that they disposed of the property due to:
January 19, 2023
As the deadline for filing individual tax returns approaches, taxpayers may still have tax returns outstanding from prior tax years. This can lead to a vicious cycle, where taxpayers continue not to file returns because prior years remain unfiled. Taxpayers can, however, late-file outstanding tax returns. Penalties and interest continue to accumulate as long as those returns remain unfiled.
January 12, 2023
In our previous blog post, we discussed factual residency of Canada for income tax purposes. In Part 2, this post describes how an individual can be deemed to be resident of Canada for income tax purposes under the Income Tax Act.
January 05, 2023
Under the Canadian tax system, a person who is a resident of Canada is taxed on income earned worldwide from all sources within a tax year. A person’s liability for taxes in Canada is not dependent on their citizenship or immigration status. Instead, tax residence is determined according to Canadian tax legislation and case law.