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.