{"id":31,"date":"2026-09-23T12:00:00","date_gmt":"2026-09-23T12:00:00","guid":{"rendered":"http:\/\/blogs.room-vu.com\/sharonfinancial-ca\/2026\/09\/23\/canadas-principal-residence-exemption-has-limits\/"},"modified":"2026-09-23T12:00:00","modified_gmt":"2026-09-23T12:00:00","slug":"canadas-principal-residence-exemption-has-limits","status":"publish","type":"post","link":"https:\/\/www.sharonfinancial.ca\/blog\/2026\/09\/23\/canadas-principal-residence-exemption-has-limits\/","title":{"rendered":"Canada\u2019s Principal Residence Exemption Has Limits"},"content":{"rendered":"<div class=\"video-zmyer\">\n<div class=\"video-frame-zmyer\">\n        <iframe loading=\"lazy\" width=\"640\" height=\"640\"\n                src=\"https:\/\/www.roomvu.com\/agent\/embed\/sharon-51\/real-estate-taxes-remotion-videos-169b\"\n                frameborder=\"0\"\n                allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\"\n                allowfullscreen><br \/>\n        <\/iframe>\n    <\/div>\n<div class=\"video-description-zmyer\">\n<p>Canada\u2019s principal residence exemption can fully shelter a gain, but only one property per family unit qualifies yearly, and even tax-free sales still require reporting.<br \/>\nIn Canada, a disposition includes gifts, trust transfers, use changes, emigration, and death; when taxable, half the gain is added to income.<br \/>\nCottages, rentals, and second homes can create taxable gains; changing a property\u2019s use may trigger one, and under-365-day sales are generally business income.<br \/>\nEstate planning matters: death usually triggers a deemed sale, spousal transfers can defer tax, and trusts need careful timing, filings, and family agreements.<br \/>\nCertain bare trusts must file for taxation years ending on or after December 31, 2026; first returns are generally due March 31, 2027.<\/p>\n<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Canada\u2019s principal residence exemption can fully shelter a gain, but only one property per family unit qualifies yearly, and even tax-free sales still require reporting. In Canada, a disposition includes gifts, trust transfers, use changes, emigration, and death; when taxable, half the gain is added to income. Cottages, rentals, and second homes can create taxable [&hellip;]<\/p>\n","protected":false},"author":372,"featured_media":68,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-31","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-posts"],"_links":{"self":[{"href":"https:\/\/www.sharonfinancial.ca\/blog\/wp-json\/wp\/v2\/posts\/31","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sharonfinancial.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sharonfinancial.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sharonfinancial.ca\/blog\/wp-json\/wp\/v2\/users\/372"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sharonfinancial.ca\/blog\/wp-json\/wp\/v2\/comments?post=31"}],"version-history":[{"count":0,"href":"https:\/\/www.sharonfinancial.ca\/blog\/wp-json\/wp\/v2\/posts\/31\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.sharonfinancial.ca\/blog\/wp-json\/wp\/v2\/media\/68"}],"wp:attachment":[{"href":"https:\/\/www.sharonfinancial.ca\/blog\/wp-json\/wp\/v2\/media?parent=31"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sharonfinancial.ca\/blog\/wp-json\/wp\/v2\/categories?post=31"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sharonfinancial.ca\/blog\/wp-json\/wp\/v2\/tags?post=31"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}