It’s Tax Season! This month Steve Karrasch sat down with Jimmy Le-Tang, Chartered Professional Accountant, and asked him questions about the taxation of both investment properties and “flipping” pre-sale strata units.
It is common that people are tempted to flip a property for easy money in a hot market. However, should you be successful in doing such a transaction, we wanted to know what your real profit for the risk would be. Also, Steve and Jimmy discuss capital gains on revenue properties and possible tax savings many investors don’t know about.
It is common that people are tempted to flip a property for easy money in a hot market. However, should you be successful in doing such a transaction, we wanted to know what your real profit for the risk would be. Also, Steve and Jimmy discuss capital gains on revenue properties and possible tax savings many investors don’t know about.
All stats provided by the FVREB April 2, 2019