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Difference between revisions of "Selling Your Home"
From Clicklaw Wikibooks
→Do I have to pay capital gains tax?
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If your home is your principal residence, you don’t have to pay tax on any profit ('''capital gain''') you make when you sell it. This is called the principal residence tax exemption on capital gains. | If your home is your principal residence, you don’t have to pay tax on any profit ('''capital gain''') you make when you sell it. This is called the principal residence tax exemption on capital gains. | ||
If at any time during the period you owned the home, it was not your principal residence, you might not be able to benefit from this tax exemption. A lawyer can advise on whether the principal residence tax exemption applies to you. | If at any time during the period you owned the home, it was ''not'' your principal residence, you might not be able to benefit from this tax exemption. A lawyer can advise on whether the principal residence tax exemption applies to you. | ||
==Get help== | ==Get help== | ||
