Name: BC Flipping Tax: General and Filing Requirements for CPAs
Price: 89 CAD
Rating: 5 (9 reviews)

What You'll Learn

check_circleIdentify taxable properties and taxpayers subject to the tax.

check_circleExplain the purpose and scope of the BC Flipping Tax.

check_circleCalculate the tax payable based on ownership duration and deductions.

check_circleUnderstand key exemptions and when filing is required.

check_circleNavigate the filing process and payment deadlines using eTaxBC.

check_circleRecognize penalties for non-compliance and available relief options.

About This Course

Note that this session was recorded on March 6, 2025.

This course, "BC Flipping Tax: General and Filing Requirements for CPAs", provides a comprehensive overview of the new BC Home Flipping Tax, a significant change in provincial tax legislation that came into effect on January 1st, 2025.

This session is designed to equip CPAs with the knowledge and tools necessary to accurately file returns, advise clients, and ensure compliance with the new regulations. You will gain an in-depth understanding of:

The tax’s history, purpose, and applicability to different types of taxpayers, including individuals, corporations, partnerships, and trusts.
The definition of taxable property and the criteria for determining if a property qualifies for the tax.
The calculation of the tax, including the tax rate, net taxable income, and primary residence deduction.
The filing process for the BC Home Flipping Tax Return, including the required information, deadlines, and penalties for late filing or non-compliance.
The various exemptions available under the tax, including exemptions for life circumstances, builders and developers, and related individuals and corporations.
Reporting obligations.
Practical advice on how to identify clients potentially subject to the tax, gather the necessary information, and prepare and file the return.
Best practices for engagement letters, client communication, and managing the risks associated with the tax.

By the end of this course, you will be able to:

Identify transactions subject to the BC Home Flipping Tax.
Calculate the tax payable for your clients.
Advise clients on the various exemptions available to them.
Prepare and file the BC Home Flipping Tax Return using the E-Tax system.
Develop effective engagement strategies for advising clients on the tax.

Your Instructors

Clearline Consulting

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Clearline Consulting provides practitioners and their staff with the tools, training and advice they need to succeed and build thriving accounting firms. From tax compliance to estate planning, file monitoring to assisting with practice review, staff training to customized consulting solutions, our team exists to serve the needs of small to mid-sized public practice firms across Canada. Our collaborative, integrated approach means your firm has access to and support from knowledgeable practitioners who are in front of the ever-changing standards environment. Our core services include supporting firms with the implementation of the quality management standards, external file monitoring, services for accounting, assurance and taxation maters, provisions of templates and resources, practice management and risk mitigation consultations.

Shane Schepens, CPA, CA

Tax Partner, Clearline Consulting CPA

Shane is a Tax Partner at Clearline Consulting and Clearline CPA. As such, he primarily focuses on income tax planning, reorganizations, and succession planning for Canadian owner-managed businesses in various industries. He received his Bachelor of Commerce degree from the University of Northern BC and obtained his CA designation in 2003. Shane started his accounting career in 2000 by working for a large international accounting firm for approximately ten years in their Prince George, Calgary, and Burnaby offices. Shane worked an additional five years for a mid-sized accounting firm located in Surrey, before opening his own accounting and tax practice in Surrey which operated for four years. Now as Clearline Consulting’s Tax Partner, Shane will be assisting practitioners with their client’s tax compliance, planning and corporate restructuring needs.

Frequently Asked Questions

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BC Flipping Tax: General and Filing Requirements for CPAs

What You'll Learn

About This Course

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