What is the principal residence exemption? The principal residence exemption is an Income Tax Act provision that reduces or eliminates taxable capital gains that would otherwise be realized on the…
Tag: principal residence
2016 Tax Change – Sale of Principal Residence
On October 3, 2016, the Government announced administrative changes to Canada Revenue Agency’s reporting requirements for the sale of a Principal Residence. In the past when you sold your principal…
Five Things You Need to Know about Death and Taxes
Article written by Jennifer Black and Dedicated Financial Solutions. Five Things You Need to Know about Death and Taxes We all know that death and taxes are inevitable and also…