Real Estate Investing Tax Tips You Need To Know
The Canadian Real Estate Investor
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The New Anti Flipping Tax
The new anti flipping tax is effective on January 1st, 2023. If you live in the house for more than 365 days, capital gains will be taxed as business income. There are some exclusions within the rule for qualifying life events such as death or breakdown of marriage,. disability or injury that will allow you to exclude that. But it's also important to note that this also includes assignment sales, which are I call shadow flipping.
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