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Homeowner's Principal Residence Exemption Affidavit Dorrtownship Form

Homeowner's Principal Residence Exemption Affidavit Dorrtownship Form

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[Music] the principal residents exemption can be a very powerful tax tool and allows you to eliminate capital gains tax which could run into the tens if not hundreds of thousands of dollars when you dispose of a property but if you own more than one property which one do you designate as your principal residents to get those benefits Nicole Ying director tax and estate planning at TD wealth joins me now with some things to think about and some really interesting things we're talking about house boats Nicole house boats thing okay so let's just remind people first off uh uh the basics of when it comes to a principal residence exemption right so you do need to own the property you can own it jointly with a spouse or another person but there's only one principal residence exemption per family unit uh you must ordinarily inhabit that property that doesn't mean live there full-time but it does mean occupying it as a home um you may not you may have another pr

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