Capital gains tax apply to certain types of sale, usually income … purchase price of your property and add the cost of any improvements. If you bought a rental home for $300,000, for instance, that …

As per Section of Income-Tax Act 1961, only one house can be considered as a self-occupied property and the … How will I ca…

The Tax Man is often the most ignored partner in any business, usually taking a big chunk of your return. For those of you who are considering selling their principal residence, you can be reassured that you likely won’t have to pay any tax on your home provided that you meet certain conditions.

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Improvements are anything that changes your … calculate your capital gains liability, you will need to total all of the depreciation that you were legally entitled to claim, whether or not you actua…

All sellers must pay tax on 50% of the net profit gained from proceeds of sale of their investment property to the government as the Capital Gain tax or if other conditions exist it would be treated as business income and all the profit is taxable ( see below).. The primary residence is not subject to the Capital Gain tax in Canada so if you own a property and you live in it you don’t have to …

The first step is calculate exactly how much capital gain you’ve earned in the last year (yes, you must pay capital gains tax every year). This sounds easy enough. All you have to do is take the sale …

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THE Bureau of Internal Revenue (BIR) said valuations based on comparable sales of real property are not acceptable for calculating capital gains tax, saying the law only allows the use of specific met…

How to avoid capital gains taxes when selling your house: IRS rules, exceptions, and exclusions for residential real estate sales with $250k – $500k in capital gains

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