New rules about principal residences and tax exemptions from the Canadian Revenue Agency, that came into effect in 2016, mean you could end up paying more tax on your properties. And that applies even if you don't sell your house. For example, if you change the use of the property - from your home to a rental property - the CRA will consider this a "deemed disposition". If you stop being a resident of Canada, for tax purposes, this can also trigger the "deemed disposition" wi

When you visit your accountant to do your tax return this year, a new rule may have a big impact. The federal government announced a change in 2016 that means the sale of a principal residence must be reported on Schedule 3 of the tax return, in order to claim the principal residence exemption. If your home was not your principal residence for the entire period you owned it, dating back as far as 1972, you will now be forced to pay capital gains based on a new calculation. Yo