When buying a home or selling a property, people quickly discover that the process is more complicated than they first realized. That is why it is important to have a team of professionals dedicated to assisting clients through the entire process, from start to finish. Selecting a Langley BC RE/MAX REALTOR® ensures that customers get service and support unparalleled in the industry. RE/MAX agents have a reputation as being the most experienced and knowledgeable agents, with the connections and resources to help clients take the worry out of real estate.

Robbie Johal, a Langley BC RE/MAX REALTOR®, is the best decision in today’s difficult market. With a network of thousands of homes and unprecedented company growth, customers throughout North America

Canadian real estate that has gained value from the time of purchase to the time of sale is subject to taxation. There are complicated rules concerning whether the real estate is used for business or intended for use in business. This includes such real estate as farmland, inherited property of any type etc. If the property is deemed a business property, it is covered by tax regulation IT-218R.

This article will instead discuss real estate that is considered residential. If one has a second home in Canada, capital gains (net profit after itemized improvements and sales commission etc. is considered as fully taxable income.

One the other hand, if the home is a residence, capital gains are taxed at a reduced rate. If the home is a primary residence,