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CASE STUDY: Jonh was an individual in his 60s who found himself grappling with a personal tax balance owed to the CRA due to late filing of multiple tax years.

October 19, 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:

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You have been arbitrarily assessed…now what?

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:

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Why can’t I contact my collections agent?

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:

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Why ignoring the CRA is always a bad idea?

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:

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Will interest accumulate on my CRA loan during my payment plan?

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:

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Ask The Experts with James Bell.

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:

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Why Should I Hire a Professional to Deal with the CRA?

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:

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What is a Taxpayer Relief Application and how do I qualify?

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:

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Will the CRA settle my tax arrears for less than the full amount?

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:

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What are the Taxpayer Bill of Rights and what do they mean to me?

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:

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Am I a House-Flipper? – New Rules to Consider

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:

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Can I Late-File My Income Tax Returns?

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.

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Tax Residency In Canada: Deemed Residency (Part 2)

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.

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