Flip or Flop? When tax issues and real estate collide - House Flipper Edition (with guest, Anna Malazhavaya of Advotax Law)

Have you ever thought about buying a house with hopes to re-sell it for a quick profit? Are you a “house flipper”?  Are you a real estate agent looking for a bit more information on the Canadian tax consequences relevant to your clients?  Then this podcast episode is for you!  Join me and fellow Tax Chick, Toronto lawyer, Anna Malazhavaya, as we break down everything you need to know about the “house flipping” in Canada… Well, maybe not everything.  We only have 45 minutes!  We promise to hit the highlights, including: a discussion of why house flippers cannot claim the principal residence exemption (7:52), outlining GST/HST considerations for developers (34:40), and a candid chat on whether paying cash for improvements/renovations on the property really saves you money (22:45).RESOURCES DISCUSSED ON THE EPISODEVideo Tax News Podcast - https://www.videotax.com/life-in-the-tax-lane-podcast MORE FROM ANNAWebsite (and Blog): https://www.advotaxlaw.ca/Facebook: https://www.facebook.com/advotaxlawLinkedIn:  https://www.linkedin.com/in/annamalazhavaya/Instagram: https://www.instagram.com/advotaxlaw/?hl=enMORE FROM AMANDAThe Tax Chick Blog - https://taxchickca.wordpress.com;Connect with me by email: [email protected]: https://www.linkedin.com/in/amanda-doucette-tep-83a9ab51/ Instagram: @tax.chick