Home buyers and property Quick guide
Selling your home? 5 tax things people forget
Even when no tax is owed, the sale of your home must be reported on your tax return for the year of sale.
Tax guides › Home buyers and property
Home buyer and property tax guides
Buying, renting out part of, or selling a home each has a tax side. These guides cover the first-time buyer programs and rebate, the rules for a rented basement suite, and the reporting required on a sale even when no tax is owed.
The Buying a home path also covers the four kinds of insurance that come with a mortgage, and the bare trust rules for parents on a child's title.
5 guides in this topic
Home buyers and property Quick guide
7 basement suite tax mistakes homeowners should avoid
The seven mistakes. Not reporting the rent. Claiming the whole house's costs instead of the suite's share.
Home buyers and property Quick guide
First-time home buyer in BC? 5 tax programs to check before you close
Check five things before you close. The FHSA, where you can save up to $8,000 a year and $40,000 in total, tax free for a first home.
Home buyers and property Quick guide
First-time home buyers' GST rebate: 7 reasons a claim is delayed or refused
Allow about 120 days. The CRA says that from May 11, 2026 it is processing a higher than usual volume of housing rebates, first in, first out.
Home buyers and property Practical guide
Renting out your basement suite: what records should you keep?
Report the rent you receive on your tax return. You can deduct the expenses of the rented part.
Have a question that is not covered here?
Call us or request a callback. Help is available in English and Punjabi.