You might think flipping a property in under a year is no big deal — but CRA sees it differently. Since January 1, 2023, there's been a federal rule in place: if you sell a residential property within 365 days of buying it, the Canada Revenue Agency (CRA) will automatically treat the profit as business income — not a capital gain. That means: You pay tax on the full profit at your marginal rate You can’t use the principal residence exemption to shelter... [read more]