Change of mind on condo pre con
Hi I wanted to ask I bought a condo in erin mills last year. Original plan was to move there with 2 kids and wife. It was 2 bedrooms. Unfortunately alot has changed. I lost my job due to covid 19 layed off and then been injured on top of that. My job involved alot of travel so condo location was fine. Now I lost job and wife got a job 20min north from where we live in brampton. So now no sense to move down south to erin mills. Wife job is bolton. Condo project is delayed.
I am deciding to move to another home right now in same area little north but not by much. If I sell my condo I know I will be in trouble for capital gains. I want to know would cra be understanding to my situation or they dont care about change of mind. Will I still get charged cap gains. How do I go about to not get charged cap gains if its even possible.
I am deciding to move to another home right now in same area little north but not by much. If I sell my condo I know I will be in trouble for capital gains. I want to know would cra be understanding to my situation or they dont care about change of mind. Will I still get charged cap gains. How do I go about to not get charged cap gains if its even possible.