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Business Matters Newsletter / Newsletters

Business Matters Newsletter – October 2014

Welcome to the October 2014 edition of Business Matters. Business Matters is a bimonthly newsletter focused mainly on businesses and entrepreneurs. The topics in this newsletter goes beyond taxation and touch on a number of topics that affect businesses. Like our Tax, Tips and Traps Newsletter, Business Matters is available by download and may be printed for your own use…

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October 15, 2014
Read more about the article Renting Your Home Can Be Taxing
Personal Finance / Real Estate

Renting Your Home Can Be Taxing

What happens when you start renting out your home? Understanding how the income tax act looks the situation can help you avoid an un-expected tax bill. When you sell your principal residence, you generally will not incur a capital gain because of the rule that exempts the principal residence from tax. However, converting all or a portion of your principal residence…

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February 25, 2011
Read more about the article The Principal Residence Exemption
Personal Finance / Real Estate

The Principal Residence Exemption

When you sell personal use property such as a car, jewelry, or furniture for more than you paid for it, you have to report and pay income tax on the net capital gain. The definition also includes real property, including the principal residence you own. The Income Tax Act provides a principal residence exemption for capital gains on the sale…

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February 23, 2011