Tag · Canada

principal residence

2 Loopholes 🇨🇦 Canada

Loopholes Tagged "principal residence"

Plain-English guides to Canadian legal rights and workarounds related to principal residence.

Medium If You Own a Home

Principal Residence Exemption (PRE)

Capital gains on the sale of a Canadian principal residence are fully tax-exempt — with no dollar cap.

🇨🇦 All Provinces & Territories Read Guide →
Hard If You Pay Taxes

Principal Residence Change-in-Use Election — Protect Capital Gains When Converting Your Home to a Rental

When you convert your principal residence to a rental property (or vice versa), you can elect under s.45(2) to defer the deemed disposition and continue designating the property as your principal residence for up to 4 more years.

🇨🇦 All Provinces & Territories Read Guide →