If the home you are selling has been your primary residence for every year you have owned it, you generally owe no capital gains tax in Canada. If you rented it out for any period, a portion of the gain may be taxable. The rules changed in 2024 with the increase to the capital gains inclusion rate. Speak with a CPA or tax advisor before you close — do not assume you are exempt without checking.

—

Thinking of selling? Work with Dale Sheppard to sell your home.