A taxpayer bought a home and occupied it as his principal residence for 18 months and then rented one-third of it for 46 months. He then sold the home for a gain of $52,000, which the Minister of National Revenue…
Posts tagged with “Capital Gain”
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Where the lands surrounding a principal residence exceed one acre, the excess area only falls within the principal residence exemption if the owner…
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Following the death of a woman in 1982 who lived on a parcel of land of 6.09 acres, the Department of National Revenue assessed a taxable capital gain of $202,800.00 on the deemed disposition of the property…
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The intention of the taxpayer as the determinative factor in whether one hundred per cent of the profit realized on the sale of property is taxed as income, or only fifty per cent as capital gain, is described in the…