[Purchase Inquiry] How does capital gains tax work when selling a property?

In Canada, capital gains tax is exempt when selling your primary residence.
However, if the property was purchased as an investment, capital gains tax will apply upon sale.

• If your profit is $250,000 or less, 50% of the gain is taxable.
• If your profit is over $250,000, 66.67% of the gain is taxable.

We recommend consulting with a REOCA-certified accountant for personalized advice based on your tax situation.