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 | | SELLING A HOME CAPITAL GAINS TAX | | | | | |  | | DOWNSIZING YOUR RESIDENCE | |
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 |  | | JUNE 2009 Real Estate Newsletter | |
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SELLING A HOME CAPITAL GAINS TAX |
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SELLING A HOME CAPITAL GAINS TAX |
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| The Income Tax Act does not specifically set out whether or not a gain or loss is capital in nature. The taxpayer is responsible for reporting the gain as income or capital gain. This report may then be challenged by the Canada Customs and Revenue Agency with the onus of proof on the taxpayer. |
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DOWNSIZING YOUR RESIDENCE |
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DOWNSIZING YOUR RESIDENCE |
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| A great many moves in our lives are to larger residences to accommodate growing families. Or, perhaps our financial development allows us to move up to a larger home with more features and amenities. There is no stress involved in trying to reduce our life's stuff to fit into a smaller place. |
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| Eugenia Topolskaia | | | Broker of Record | | | ATV Realty Inc, Brokerage | |  | |
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