In certain circumstances property held by a taxpayer can be deemed to be sold even if no actual transaction has taken place. Disposition occur upon death, gifting of property, change in use of property, or on the cessation of Canadian residency.
Other examples include:
- Transfer of securities from a non-registered account to an RRSP.
- Converting a principal residence to a rental property.
Related Articles
- Transfer of Ownership of Property
- Capital Gains On A Basement Rental
- Renting Your Home Can Be Taxing
- Capital Gains For Non-Residents
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