Fix and Flip in Canada

[Cody Adams]

I was recently reading an article related to house flipping in Canada, there is a new law that states that any profit made on a home which is "flipped" will be taxed in the same tax brackets as employment income. From what I was reading it seemed as though this only applied in the first year of ownership. I would like to know if anyone has come across this issue in their ventures in Canada? also curious to know if anyone my have a better suggestion as to where a person could find more in depth information related to this new law? the article i read on it was not about this law specifically, it was just a mention in one of the paragraphs