Most Canadians are sitting on their single biggest financial asset and don’t understand the tax rules protecting it. The principal residence exemption is one of the only true tax-free wealth-building mechanisms left in Canada. Zero capital gains on your home’s appreciation. No matter how big the number.
But it’s not automatic. It’s not guaranteed. And the CRA has spent the last decade quietly closing the loopholes people thought were wide open.
Here’s what you actually need to know.
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