Selling Real Estate : Principal Residence Exemption, Assignment Sales, Property Flipping & Tax Reporting Essentials

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120 Minutes

Selling real estate in Canada can trigger major tax implications — especially when it comes to determining whether your property qualifies for the Principal Residence Exemption, or if your sale might be considered flipping or business income by the CRA.

This webinar is designed for homeowners, real estate investors, and tax professionals who want to understand the tax treatment of different types of real estate sales — including assignment sales, capital gains, and reporting requirements.

Whether you're selling your family home, flipping a property, or assigning a pre-construction contract, this session will help you stay compliant and reduce surprises come tax time.

PD Credit Opportunity

By attending, participants will earn 2 Professional Development (PD) credits. This is a valuable opportunity to expand your knowledge, satisfy your annual PD requirements, and stay at the forefront of recent tax law changes that will influence client service and tax preparation strategies in the coming year.

What You Will Learn in This Webinar

Principal Residence Exemption (PRE):
  • What qualifies as a principal residence.
  • How to report a sale on your tax return.
  • Common mistakes and how to avoid losing the exemption.
Assignment Sales Explained:
  • What is an assignment sale and how it's taxed.
  • HST/GST implications.
  • When CRA treats it as business income vs capital gain.
Property Flipping Rules & CRA Guidelines:
  • What qualifies as a flip in CRA’s view.
  • New anti-flipping rules (e.g. 12-month ownership rules).
  • How frequent sales can lead to business income classification.
How to Report the Sale on Your Return:
  • Which forms to use (e.g. Schedule 3, T2091).
  • When HST applies.
  • How to calculate and report capital gains or business income.

About Our Speaker

Amit Patel
  • Specialized in Personal and Business Tax Returns.
  • Over 10 years of teaching experience.
  • Known for simplifying complex tax topics into practical, real-world advice.

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