[leangm]

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?

 

[Just a Guy]

Not in Canada....yet.

 

[leangm]

Thanks

 

[GreatLaker]

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.

 

[leangm]

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.

Thanks