Glossary · Taxes
What is Capital gains tax?
Capital gains tax may apply to the profit you make when you sell a property that isn't your principal residence.
Definition
A capital gain is the difference between what you paid for a property and what you sell it for. Profit on an investment or secondary property can be taxable, while a principal residence is often exempt, depending on local rules.
Keeping detailed records of your purchase price, improvements, and selling costs helps you accurately calculate any gain and reduce what's taxable.
When capital gains tax matters
- Planning the sale of an investment property
- Tracking improvements that reduce taxable gains
- Understanding principal residence exemptions
With Homeprint
How Homeprint helps with capital gains tax
Homeprint logs your renovations and expenses, creating the paper trail you need to calculate gains accurately.
- Keep every related document in one secure place
- Track your home's value and finances over time
- Stay connected with trusted neighbourhood experts
Capital gains tax — FAQ
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