Published On: Sat, Aug 14th, 2021
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Possible Home Equity Tax on Primary Residences ‘Very Concerning’ for Average Homeowners: Taxpayers’ Advocateon August 14, 2021 at 2:12 pm

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Indications that the federal government is considering introducing a potential capital gains tax on the sale of primary residences should be of great concern to Canadians, says the B.C. director of a taxpayer’s advocacy group. “We think people really need to pay attention to the potential for either a capital gains tax or a form of a home equity tax on the sale of your primary residence,” Kris Sims, British Columbia director for the Canadian Taxpayers Federation (CTF), told The Epoch Times. “So what that means is the house you’re living in right now, if it’s your only house, when you sell that the federal government is seriously thinking about nailing you with a brand new tax.” Sims points to research paid for by the government through the Canada Mortgage and Housing Corporation (CHMC) to the tune of $250,000 to examine a possible tax on principle residences, first reported by …

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