Capital Gains Tax Rate 2024 Selling Home In Canada

Capital Gains Tax Rate 2024 Selling Home In Canada. You may claim exemption for the flat purchased, if your total amount of ltcg (minus the amount of capital gain bonds) gets invested in purchase of flat. The 2024 budget maintains the existing exemption for capital gains from selling a principal residence.

The new rate applies to net capital gains exceeding $250,000. From june 25, 2024, onward, the inclusion rate for capital gains has changed, where 50% of the capital gain is taxable on only the first $250,000 in capital gains, and 2/3 of the.