- Joined
- Jan 27, 2009
- Messages
- 70
Hi there,
We are currently selling three properties for the first time and wanted some advice on capital gains. We know that its 23% on the profit, however I want to know a few things:
Thanks,
Scott
We are currently selling three properties for the first time and wanted some advice on capital gains. We know that its 23% on the profit, however I want to know a few things:
- Is there anything we can do to minimize it?
- If we roll into another property can we avoid paying it?
We used CMHC insurance and purchase plus improvements so our mortgage value is higher than what we paid. would capital gains be calculated including CMHC and the money we received for improvements? Or would it only be on the purchase price?
Thanks,
Scott