Home prices tend to rise over time, so when you sell a home you've owned for a while, you may turn a profit. You have a capital gain. In Canada, taxes must be paid on most capital gains.
However, there's an exception available to most Canadian homeowners called the Principal Residence Exemption (PRE). It says that homeowners don't have to pay capital gains tax on a home that has been their principal residence. Most people who've lived in their homes are eligible for PRE, but there are still conditions homeowners must meet.
If the home was not the owner's principal residence the whole time, the owner might have to pay part or all of the capital gains tax. If it was a money-making property, the owner has some tax to pay. Even if a homeowner is
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