Tag: benefit return

Proposed Changes To Canada’s Principal Residence Claim

The sale of a capital property for an amount greater than its cost generally leads to a capital gain, 50 percent of which is taxable in Canada. If the property is the seller’s principal residence, the gain resulting from the disposition can be sheltered by the principal residence exemption (“PRE”). Only taxpayers who are individuals or certain trusts are eligible to claim the PRE.

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