Important changes for the owners of Canadian homes.
On October 3, 2016, the Minister of Finance, Bill Morneau, announced several significant changes to the existing rules related to Canadian housing. A few key points from it are as follows: - The owners of Canadian primary residence, who sell their homes in a tax years that end after October 2, 2016, would be required to report the deposition of the homes on their tax returns, even if it qualifies for a Principal Residence Tax Exemption. - CRA now will have an authority to ass
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