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Buying or selling a home? What you should know....

Posted by Admin Posted on 04 Feb 2017

Many of you will have already heard, or read about the new tax reporting requirements by CRA when you buy and / or sell your principal residence.

These changes are effective for the 2016 personal tax year and it is important that the information is not missed when you file your 2016 personal tax return.  To learn more about the new rules, click the following links to access the CRA website information pages that discuss these new requirements:

Buying or selling a home? What you should know 

Reporting the sale of your principal residence for individuals 

Contact us, if you would like to discuss these changes and how they may affect your tax situation for 2016...we are here to help.

All information provided in this blog by Blue Ink Accounting Corporation is for the readers' PERSONAL REFERENCE AND CONSIDERATION ONLY and SHOULD NOT BE RELIED UPON ON ITS OWN to base important personal and business decisions without consulting a professional.

Due to the nature of tax and accounting matters it is impossible to forsee and include all potential client and business circumstances, exceptions, and situations when publishing information through our blog, the reader is strongly encouraged to engage a qualified perofessional for further review and discussion of information provided.

Blue Ink Accounting takes no responsibility for the consequences of the readers' actions and decisions based on the contents of our blog which are made without consulting a professional.