Is money from selling an investment property taxed at the marginal rate?
If I sell my condo (an investment property, not my primary residence) then I imagine I need to pay tax (provided I make a profit).
If I don't make profit, can I use the loss against my salary income to reduce my income taxes?
If I do make a profit, am I doomed to pay tax at the marginal tax rate? If I make a decent profit, I imagine the RRSP contribution room is not enough to keep all my profits in there.
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No. If this is an investment property, it is subject to capital gains tax rather than being taxed at your marginal tax rate. This is almost certainly better for you; capital gains are generally taxed at half your marginal tax rate.
MoneySense has an article that goes into substantially more detail, discussing the principal residence exemption (which does not apply here), and when exactly a house is considered an investment property.
Generally speaking, it will almost certainly be worth hiring an accountant here.
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