What's lame is that is completely untrue.
I think it only counts if the information is mailed to him directly.
It's Illegal For The Government To Enforce Laws That Aren't Publicly Disclosed ...
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What's lame is that is completely untrue.
I think it only counts if the information is mailed to him directly.
Precisely. The law is not as simple as that. If you move and do not sell your house immediately you could get stung.
Estates can have some pretty interesting misunderstandings too when it comes to situations where capital gains tax applies on a primary residence sale.
The long and short is, where people don't know they should find out.
Not exactly as precisely as you said prior.
But I guess that's as close to you conceding to an error, as we'll get.
Oh I'm sure there will be some word smithing and name calling on the horizon.
That's cannucks MO, when he gets served.
I can't even imagine what it's like living with that fragile of an ego.
I'd love to discuss restricted/confined space and MSDS, but he's already stated he's not here for discussion, he's here to point out hypocrites and entertainment. Which is why I treat him and his posts as I do.
We`ve had two people here already claim the you don`t need to pay CGT. That`s my point, the law just assumes you should know. The more complex a vehicle you drive, the higher the license class you need to have in order to drive it. The more complex your job is, the hirer level of training or certification you need.
But when it comes to law, governments just pass laws and expect the average citizen to keep up. Ignorance is no excuse.
Provide all the info.
Did he live in it all his life?
Was it an inheritance?
Did he move and rent it out|?
Understanding the laws is fairly easy. The vast majority don't apply to you. If you are planning to do something specific like planing a murder or buying some land then you should research that area of law. Now I know that there are over a thousand laws and regulations on mineral claims but since I have zero intentions of ever getting one I could care lees what the applicable laws are. Same goes for work. I know that WorkesafeBC has thousands of rules but most of them do not pertain to the work I do so I just ignore them, but I have a good grasp of the ones that apply.
That's amazing. It's 'never disclosed to anyone', yet YOU know about it? That's pretty wild, isn't it?
Yes. He had to to pay the rent for the house he was living in. It wasn`t his plan put it took a while to sell.
There are conditions for capital gains exemption on your pricipal residence....read them.
Your Principal Residence and Taxes Tavana & Co.: Toronto, Canada Chartered Accountants & Tax Consultants
Your Principal Residence and Taxes Tavana & Co.: Toronto, Canada Chartered Accountants & Tax Consultants
No, the government expects that if you are involved in flipping dirt that you know the laws or hire someone that does to enlighten you.
The law is you need a class 1 license to drive a tractor-trailor. It's encumbent on someone with only a class 5 to figure that out before they drive one.
It was the only house he ever owned. Moved here and rented a house. His house didn`t sell immediately and he rented it out to help pay the mortgage. The house eventually sold (not sure how long) and he bought a house here. He thought, given the fact that he only ever owned one house, he didn`t have to pay CGT. He had hire lawyers and real estate agents and nobody said anything to him. Revenue Canada doesn`t care. Ignorance is no excuse.
LOL, tell that to a farmer.