Hey guys,If I sell my rental property and invest the proceeds in stocks, would I still have to pay the capital gain tax?
Sep 14th, 2021 12:10 am
I sold my investment property and want to pick your brain on how to save on capital gain tax other than using the RRSp room what other things that I can claim under expenses to minimize the tax.
Aug 27th, 2021 11:51 am
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Jun 24th, 2021 9:26 am
If my parents sold me their rental property for $100(which is basically nothing). And they paid the capital gain tax according to the FMV. Ever since I received it, I declared it as my primary residential property and since then started living there and never rented it out ...
Apr 29th, 2021 10:18 pm
... house property taxes, utility and insurnace from the rental income. And I would not claim any CCA. If I ever sell the house, do you I have to pay Capital gain tax for basement room and washroom I added? I know for keeping a primary residence, I have to meet all three of the conditions below: • ...
May 11th, 2020 11:10 am
Hi all, I apologize in advance as my case is a little bit complicated. It's actually about my sister's condo in Toronto. Here is the timeline: 2012 : My parents bought the condo for $430k under my sister's name (she is the owner). May 2014 : She got married and moved abroad permanently (my mom and I...
Oct 17th, 2018 3:23 am
the new budget will be revealed in the next 21 days, there are some rumors floating around saying T2 will raise the Capital Gain Tax from 50% to 66.66% There are also rumors saying the principal residence exemption will be capped to a certain amount, let's say 1M. anything over this ...
Feb 28th, 2017 7:18 pm
For example: My T4 income is $80,000, which currently at the 20.5% (fed) + 12.16% (ont) = 32.16% tax bracket Selling a secondary residence earns $100,000. So will this $100,000 be charged at the currently marginal rate (32.16%)? or will it add up to the total income and charge on the next level (29%...
Jun 2nd, 2016 11:17 am
Hi guys! I've just gotten into online trading and I opened an account with Virtual Brokers today. However, I'm really confused on how the whole thing works. I was once told by someone that by trading "through" your TFSA, you don't have to pay taxes on capital gains you make while trading s...
Dec 30th, 2015 2:16 am
HiI am planning to buy a 2nd home but heard that when you sale it, need to pay HST and Capital Gain Tax (CGT) on it. Is there any way to avoid paying CGT/HST?.Thanks
Sep 16th, 2012 1:06 pm