TAX RULES HAVE CHANGED - WE CAN HELP

A change to the tax rules about Principal Residence Exemption means Canadians might owe tax on the sale of their home - even if they don't sell it!

If your home is being used as more than just your residence - for business purposes for example - or if you have a cottage or off-shore property that becomes your primary residence for a period of time, you will need to get your property appraised for the time the change happened. This can date back to 1972. Under the Canadian Revenue Agency tax rules, that change means your house was "sold" and you need to confirm its Fair Market Value at the time.

If the home is sold, or later becomes your principal residence only again, you'll again need to appraise the value at that time to calculate the capital gain.

At Leander Property Appraisals, we can help. Give us a call.

Sunny Estate

LEANDER PROPERTY APPRAISALS

Trusted Since 1985

  • Residential  

  • Commercial

  • Industrial    

Toronto  |  York  |  Durham  |  Peel  |  Halton 

CONTACT US ABOUT YOUR APPRAISAL

Email:

Phone:

(905) 841-1841

How the taxman could deem your house sold, even if you don't sell

April 7, 2017

New tax rules on homes affect every Canadian homeowner

April 6, 2017

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ABOUT US

Since 1985, Leander Property Appraisals Inc. has served our clients from Oakville to Oshawa and up to Barrie.


Our local expertise sets us apart. Our appraisers live in your neighbourhood.

Our services include appraisals for:

  • Mortgage financing

  • Power of Sale

  • Estate Settlements

  • Expropriation

  • Insurance Settlements

  • Capital Gains

  • Asset valuation

  • Retrospective valuations

  • Property Assessment reviews

  • New construction projects

  • Renovation Projects

  • Pre-purchase/sale rent

Our appraisers, as members of the Canadian National Association of Real Estate Appraisers (CNAREA), meet the highest standards of professional practice.

 
 
 
 
 

Address

155 East Beaver Creek Rd
Richmond Hill, L4B 2N1
Canada

Contact

(905) 841-2818

©2018 by Leander Property Appraisals Inc.

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