Anti House Flipping Tax

Flipping homes has been a way that many people have made a living or in some cases, it was a side hustle. In the past, it has been quite lucrative, especially during inflated market times.
If you have considered flipping homes, there is new information you need to know. Recently, the Canadian government has announced new measures that will crack down on house flipping by ensuring that profits from properties held for less than 12 months are fully taxed, starting in 2023. This will help to ensure that investors who flip homes pay their fair share and play a role in lowering housing prices for Canadians.

There are, however, certain exceptions to the rule that will allow investors to avoid paying the full tax. These exceptions include unexpected life events such as death or divorce. This is an important measure to ensure that investors who are flipping homes out of necessity are not unfairly penalized.
Anti-House Flipping Tax: Are you affected by it? Drop me a line and I can inform you firsthand!

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