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Capital Gains Tax

Capital gains are the profits made on selling assets. Your primary place of residence is exempt from any capital gains tax. An investment property sold at a profit will attract a capital gains tax on the profit. The amount will be added to your regular income and taxed at your marginal rate. However, depending on your situation at the time of selling a property, the capital gains tax could be adjusted to be reduced by way of new investments put in place. You should get advice on this matter before selling so that you can structure it correctly.


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