Capital Gains Tax in Ontario

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Capital Gains Tax

You may experience a capital gain or loss when you dispose of certain property. This disposal may be through a sale or transfer. This type of property for purpose of capital gain or losses can include, but is not limited to:

 

Real estate, including land

Stocks

Bonds

Ownership or shares of a privately held company

Certain trusts.

 

You will need to complete line 127 and section 3 of your income tax return.

 

Please refer to publication T4037 to determine if you have a reportable gain or loss:

Ref: http://www.cra-arc.gc.ca/E/pub/tg/t4037/t4037-e.html

Article Follows : Capital Gains Tax on the Sale of Real Estate Properties 

Appropriate expert advice from a Chartered Accountant or Tax Consultant to be /should be sought in regard to capital Gains issues and exemptions.

Please contact me should you have a question in this regards for Buying or Selling Real Estate Related matters.

The information provided in this blog is for information purpose only, Author is not Liable for any Misuse or Other, Use on your risk.Please verify the codes from local and federal laws and use right professional advise in the matter.

Author is Licensed Real Estate Agent and Mortgage Agent, and provide service in the respective field only.