Not in Canada....yet.
Principal Residence Upgrade
If I sell my principal Residence to buy a more expensive principal Residence. Do I have to pay capital gain tax on sale of principal residence sale?
1 - 5 of 5 Posts
No Tax as long as it was 100% principal residence for all the years you owned it. You will need to report the capital gains on Schedule 3 and complete form T2091 designating it as your principal residence in the year you sell.
ThanksNo Tax as long as it was 100% principal residence for all the years you owned it. You will need to report the capital gains on Schedule 3 and complete form T2091 designating it as your principal residence in the year you sell.
1 - 5 of 5 Posts
- This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Canadian Money Forum
A forum community dedicated to Canadian personal finance enthusiasts. Come join the discussion about investing, stock portfolios, equities, frugality, real estate, market trading, taxation, retirement, and more!
Full Forum Listing
Explore Our Forums
