Ish Jindal Chartered Professional Accountant serving Scarborough, Ontario explains how to save tax on the Capital Gain.
I sold my House this year at a significant profit. How can I save tax on the Capital Gain?
If you have been living in that house since you owned it and it qualifies as principal residence you don't have to pay tax on the profit you made on selling that principal residence, however, effective 2016 you have to still report the gain on your tax return. If you didn't use the house for all the years for your living we can still help in saving significant amount of taxes. Give us a call. ... More