Canada Revenue Agency Probing Pre-Construction Condo Flipping

Canada Revenue Agency is analyzing 2,810 transactions involving cases of pre-construction condominium flipping in Toronto to determine whether audits need to be carried out to find tax evaders.  In the Toronto area in particular, the federal government agency says audit work has increased substantially on what are called “assignment sales” or “shadow flipping” in which a condo is purchased from a developer and sold to another buyer before the unit is completed.    Read the article…………….


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