Do i have to report money received from equity of family home as part of separation?

[_krups_2938]

Yes, if you have received money as a part of separation on the equity percent of your family house then you must report it in your tax file.

If this house was your principal residence then you have to declare it under the sale of principal residence sp that you do not need to pay tax on it.

However, if it is not your principal residence, then you have to declare it as capital gain which is taxable.

For more information on the sale of principal residence please visit this page of the Canada Revenue Agency: - Disposing of your principal residence

Here is one more link on Capital Gains from Canada Revenue Agency: - Capital Gains – 2021

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