Tax owed on the profit from selling an investment property, calculated as the difference between the sale price and the adjusted cost base. In Canada, 50% of capital gains are currently included in taxable income. A 2024 federal budget proposal to raise the inclusion rate to 66.67% on gains above $250,000 was deferred and has not been enacted; the 50% rate remains in effect. Tax outcomes depend on your specific situation — consult a Chartered Professional Accountant.
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