The principal residence exemption is a powerful tax saving provision in the Canadian Income Tax Act that allows you to shelter the gain on the sale of your principal residence from income taxes. For people who own multiple properties, though, there are some unique opportunities with the principal residence exemption that are often misunderstood.

In this video, I'm going to talk about what the principal residence exemption is, I'm going to talk about how you can strategically apply the principal residence exemption when you own multiple properties in order to potentially save you thousands of dollars of income taxes.

Additional Reading:
[ Ссылка ]
[ Ссылка ]

📅 Book an Introductory Call with Mark

[ Ссылка ]

🗞️😄 RETIREMENT ROUNDUP🗞️😄

To get a weekly video newsletter with retirement news, planning insights, and investment lessons, consider subscribing to "Retirement Roundup" below:

[ Ссылка ]

TIMESTAMPS:
0:00 - Introduction
0:50 - Home and Cottage Scenario
1:37 - Introducing the Principal Residence Exemption
4:00 - Strategically choosing the property to use the PRE on
6:05 - Option 1 - Split the PRE
7:46 - Upton 2 - PRE on House only
8:50 - Final Thoughts

свернуть