Question Period – Capital Gains Tax on Principal Residences

 

Media reports have been circulating that the Liberal government has been considering getting rid of the exemption from capital gains taxes that currently exists for principal residences. Having to pay capital gains tax on the sale of a principal residence would devastate the savings and retirement plans of many Canadians. So today in Question Period I asked the government: are they considering instituting the capital gains tax on the sale of principal residences?