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    symbios's Avatar
    symbios Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jul 4, 2007, 09:38 AM
    Capital Gains Tax Canada
    My husband and I are selling our home. We currently own two houses, held onto the first house when he got transferred and the selling prices in our town were too low to sell at the time. We are now selling the house (which is in both our names) which has not been our principal residence for 3 years. Question... can we change the house to my name only so the Capital gains tax we are charged can be added to my income not his, since he earns more than I do? Do we pay only 50% of the profit from the house. We are not investors and have never claimed any Capital Gains Tax before.

    Thanks.
    symbios
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Jul 5, 2007, 11:52 AM
    Sorry, my Canadian tax expertise is extremely limited, so I cannot answer.
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