When someone with multiple homes — including a vacation home — goes to sell, most people are eager to claim any tax exemptions they can, right away, to save money.
Cottage shopping during COVID? Don’t forget the tax implications
Jamie Golombek, managing director of tax and estate planning at CIBC Private Wealth Management, says that a couple is generally allowed one principal residence for tax purposes. When someone with multiple homes — including a vacation home — goes to sell, most people are eager to claim any tax exem…
