For those that want to know about how the capital gains tax works, read below.

"People who sell their principal residence do not have to pay capital gains tax; those who sell a vacation or rental property will likely pay 50 per cent of the capital gains; but if you buy the property or a condo pre-sale contract with the intention of flipping the asset quickly for a profit, the seller must pay income tax on 100 per cent of the capital gain".


picture 1