Reporting the sale of real estate and claiming the principal residence exemption

Notice to the reader

The legislative measures below have received Royal Assent.

On October 3, 2016, the government announced proposed income tax measures designed to improve tax fairness and integrity in the Canadian housing market. These measures will ensure that the principal residence exemption is available only in appropriate situations. The announcement also includes measures to improve reporting by all taxpayers of the sale or disposition of real estate.

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