Homeowner's Principal Residence Exemption Affidavit Dorrtownship Form

Instructions and help about Homeowner's Principal Residence Exemption Affidavit Dorrtownship

[Music] most canadians know that when they sell their home the principal residence exemption exempts the homeowner from paying any taxes on the gains but my guest says if you're selling your home at a loss or if you're renting out your home to work remotely elsewhere you better know the ins and outs of the personal residence exemption or could cost you joining me now is georgia swan tax estate planner with td wealth you're nodding because that's what you told me i know you agree with this stuff people need to understand it georgia listen let's just start with the basics just explain how the principal residence exemption works so if you ask a lot of people about selling their principal residence most people think that there's no capital gains on it or there might be capital gains but it's not taxed in an actual fact when you're thinking about the principal residence exemption you've got to flip this flip the script basically you should think that there is always tax on all capital gains