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vvachon
New Member

How long do you need to live in your principal residence, before you can sell it, without having to pay capital gains?

We built a house last year and got occupancy in october 2017, which we then moved in. We recently got an unexpected offer to buy our home, and they want to finalize the purchase in september 2018. my question is, will we need to pay capital gains if we sell before a full year? 

1 Reply
taxnano
New Member

How long do you need to live in your principal residence, before you can sell it, without having to pay capital gains?

There is really to time limit especially if this the only home owned at any particular time; here is a link to what qualifies as a PR

https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-re...