Are You Contemplating Selling Your Toronto Rental Property?
Get The Best Capital Gains Tax Advice For Smart Investors
Of course, no one loves paying capital gains tax when they sell their investment condo but it’s necessary and you need to know how best to avoid over paying when it comes time to report your sale.
Now that the Canadian government is requiring every sale to be documented on our annual tax returns, it’s important for you to understand how the capital gains tax collection process works.
To create this Best Capital Gains Tax Advice report, I interviewed a tax accountant from a prominent Toronto accounting firm. He outlined three major scenarios where capital gains tax would be applicable.
- A Canadian purchases a property strictly for investment
- A non-resident investor sellers their Canadian real estate
- A Canadian resides in the home for a number of years and then moves out and turns it into a rental
You’ll discover how capital gains tax money gets collected on closing, if it’s possible to defer payment and what you should do immediately if you’ve lived in your current investment property in the past.
Send my Guide here please...