I also understand that when you sell a farm, you can also benefit from the principal residence deduction, meaning that you can eliminate entirely from capital gains your home plus 1.24 acres. That's completely tax-free. Are you aware of that, sir?
Don Davies NDP Vancouver Kingsway, BC
I also understand that when you sell a farm, you can also benefit from the principal residence deduction, meaning that you can eliminate entirely from capital gains your home plus 1.24 acres. That's completely tax-free. Are you aware of that, sir?
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