Budget 2022 and Real Estate Taxes: Residential Property Flipping Rule and HST on Assignment Sales
Residential Property Flipping Rule Residential properties which are sold after December 31, 2022, and which were owned for less than 12 months, will be deemed to be business income. This means the entire profit is included in one’s income. The capital gains treatment, and the Principal Residence Exemption are not available under these circumstances. There […]