Questions tagged [house]

KatanaSwordsmanship Fri Mar 29 2024 | 5 answers 1446

I'm not sure if I need to pay capital gains tax when I sell my house in Canada. I've heard different things from different sources, and it's really confusing. Could you please clarify the situation for me? I've lived in this house for a number of years, and now I'm considering selling it. Do I need to worry about paying tax on the profit I make from the sale? And if so, how much tax would I have to pay? Also, are there any exceptions or exemptions that might apply to my situation? Thank you for your help in answering my questions.

IncheonBlues Fri Mar 29 2024 | 7 answers 1030

I heard a rumor that someone in our town sold their house for bitcoin. Can you believe it? I mean, who would take such a risk? Bitcoin is so volatile, one minute it's worth a fortune, the next it could be worth nothing. It seems like a crazy move to me. But then I started thinking, maybe there's someone out there who's that confident in the crypto market. Or maybe they just needed the money fast and didn't care about the risks. Either way, I'm curious to know who it was and why they made that decision. Do you have any idea who it might be?

BusanBeautyBlooming Fri Mar 29 2024 | 7 answers 1833

I have a house in Canada, and I'm considering selling it to my son for just one dollar. Is this legal? I understand that the market value of the house is much higher than this, but I'm doing it for sentimental reasons. Will there be any tax implications or legal issues if we proceed with this transaction? Also, should we have a lawyer draw up a contract for this? I appreciate your help in clarifying this matter for me.