Capital Gain

The taxable profit when you sell a property for more than its cost.

A capital gain is the profit when you sell a property for more than its adjusted cost base plus selling costs. For a rental or other non-principal-residence property, a portion of the gain is included in income and taxed. Your principal residence is usually exempt. Selling a property that was sometimes rented and sometimes lived in, or that you claimed CCA on, makes the calculation more involved, so it is a common moment to get professional advice.

General information only, not legal, tax, or financial advice. Rules change and vary by province; confirm the current details with the relevant authority before you rely on them.