Is there a Capital Gains Tax when I sell my house in Canada?

For the majority of Canadian homes owners who have resided in thier property for at least 1 full calandar year, there is not a capiatal gains tax when you sell your home.

However there are taxes payable to the canadian government for the following residential real estate home sales....

summer cottages

second homes

rental properties (including if you rent out your primary residences for a time period)

Capital Gains tax is also applied to real estate you have inherted/given to your children. This rule has been in place for several years with a 50% capital Gains tax. Efffective June 25, 2024, the Trudeau-NDP Government has increased the capital gains tax to 66.66%. 

These are only some of the real estate tax implications when selling real estate in Canada. If you are a non-resident of Canada, there are more tax implications, check with you accountant for up to date changes.