Flipping / Assigning Properties? Don’t Go To Jail!

CRA Investigating Tax on Undeclared Earnings for Flipping Offers to Purchase Real Estate in Canada

We’ve all heard the stories. In red-hot real estate markets like Toronto and Vancouver, brand-new projects, especially condo projects sell out fast. When sales open, there are lineups around the block. Desperate purchasers clutch serious deposit money in their anxious hands, hoping against hope that by the time they get to the front of the line, there will be a unit left for them to buy. Often, when sales to the public start, a 100 unit project has only 40 units left, the others are already sold. Who got to buy those units and how does that work? Continue reading

Welcome!

This blog is a place to share my 40+ years of experience as a lawyer and real estate investor. My practice is based in Edmonton, Alberta, but much of the content here will be applicable to Western Canada and beyond. I’ll be posting useful information on the legal side of real estate investment as audio podcasts and full text handouts, both of which are based on my popular Tales from the Trenches presentations for the Real Estate Investment Network (REIN). There will also be information about paying less tax when selling real estate or a business, upcoming events, and other exciting news.

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Contact Barry McGuire now. Alberta real estate needs an Alberta lawyer.