Tag Β· Canada
principal residence
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 β with no dollar cap.
Hard If You Pay Taxes
Principal Residence Change-in-Use Election β 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.