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Commissions - for sellers
This document is required for all non-resident owners disposing of real estate in Canada. Fees for its preparation and filing vary and usually range from $300-$1000 plus tax and dispersements, depending on the nature of the transaction. Please see my Selling: Non-Resident Issues page for more details.
Capital Gains Tax
Capital Gains tax is not applicable on your principal residence if you are a Canadian resident. It is applicable for second residences and investment properties for residents and non-residents alike. Generally speaking, capital gains tax is levied on 50% of the gain at the seller's marginal income tax rate. Like many other taxes, this rate and its application will vary depending on many factors. We strongly recommend that all sellers consult their lawyer and accountant to determine exactly how the Capital Gains tax applies to them.
You'll require a Lawyer or Notary Public in order to transact your sale, transfer title and discharge your mortgage if required. Costs usually range between $600 to $1500 plus dispersements plus GST, depending on the nature of the transaction.