Sold a home? Know your tax obligations

11 March 2019
RLP Meadowtowne
Sold a home? Know your tax obligations

When you sell your home (or principal residence) you usually don’t have to pay tax on any profit from the sale. But what you might not know is that even if you are entitled to the principal residence exemption, you need to report the sale on your income tax and benefit return. This became mandatory in 2016.