In a country with some of the world’s most expensive real estate, Prime Minister Justin Trudeau’s government wants housing to become more affordable.
In a country with some of the world’s most expensive real estate, Prime Minister Justin Trudeau’s government wants housing to become more affordable.
Capital gains will be applied on a non primary residence when that secondary residence is sold, so in a round about way it can be a home tax. I will pay about 25k this year on the sale of my income property.
You won’t have a (second) home in which to tax. You will have sold it. It is your income that will be taxed.
But housing is also taxed, just not by way of capital gains. Capital gains only taxes income.