Can you avoid capital gains tax?
Your home can be an effective tax shelter, but other forms of real estate can attract capital gains taxes. Here’s what you need to know about some of the more nuanced real estate scenarios.
capital gains
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Piling on debt
Canadian consumer debt topped $500 billion in March with auto loans fueling the increase. This and more in Wednesday’s roundup.
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2013 interest rates
The IMF has a message for Mark Carney’s replacement: Raise interest rates in 2013.
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Ask MoneySense: Capital gains
Land sold to a builder is typically viewed as “deemed proceeds of disposition.”
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Can we avoid capital gains tax?
A reader’s question highlights the implication of timing and disposition when it comes to how tax is calculated on an inherited property.
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You’ve inherited a home: do you owe tax?
Tax on an inherited piece of property depends on a number of factors: Was it a principal residence? Who will live in the property? Do you currently own property? Know the general rules and you can minimize your tax exposure.
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Condo critical
Yes, I’m bullish on property investment: I’m in the market right now. But condos appear to be hitting a critical stage in the real estate cycle and I’m convinced a major correction is imminent.
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Give a home as a gift and you’ll pay tax
One enterprising couple offered a builder a free home if he built their dream home for free. While it may be a great opportunity for both parties, there’s still tax to consider.
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If I had a million dollar home…
Recently a reader posed a unique Cadillac problem: If he won and then sold a new home, would he have to pay taxes on the capital gains?
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Ask MoneySense: Avoiding capital gains tax
MoneySense answers your questions.
