Tag Archives: CRA

We’re at the end of the tax season but the Canada Revenue Agency is looking to audit many Toronto condo sellers, suspecting that there have been large financial gains from “flipping” properties this past year.  Under these suspicions, individuals who have recently profited from the booming condo market  are being investigated. In many instances, the CRA has reduced these profits …

I had a couple of my clients asking about the recent advertising on the radio and in the news papers with the tag line, “Is your mortgage tax deductible?” and wanted to know if it’s something that they can use. I had heard about the Smith Maneuver for the first time back in 1999 and did some research on it …