sarebear1992
New member
Let me submit this case to you: a common law couple splits up. They own jointly 2 properties so they decide to live each in one. Mortgages stay the same as when they were together and they both keep paying for both mortgages.
Fast forward a few years later : they decide to sell one property that was the principal residence of one of them. Are capital gain tax applicable for the years after the couple separated given it is co-owned?
What do you all think?
Fast forward a few years later : they decide to sell one property that was the principal residence of one of them. Are capital gain tax applicable for the years after the couple separated given it is co-owned?
What do you all think?