The Principal Residence Exemption Just Changed in 2016 Personal Income Tax Return

cra-2016t1-changesprinciple-residence-in-canada

“Starting with the 2016 tax year, generally due by late April 2017, you will be required to report basic information (date of acquisition, proceeds of disposition and description of the property) on your income tax and benefit return when you sell your principal residence to claim the full principal residence exemption.”

 

 

 

 

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