| Home value sometimes referred to as "Value in Use", is best described as the probable price at which a home trades in a free, competitive, and open market and is synonymous with the market value. | The Income Tax Act does not specifically set out whether or not a gain or loss is capital in nature. The taxpayer is responsible for reporting the gain as income or capital gain. This report may then be challenged by the Canada Customs and Revenue Agency with the onus of proof on the taxpayer. | If you have decided that now is the time to sell your home, you might be thinking: should I hire a Real Estate Sales Representative or do it alone. Have you ever considered repairing your own car? Anyone can buy the tools and parts. However, most of us just do not have the knowledge, training, experience or the expertise and commitment of time to do the job properly. Besides, there are plenty of experienced professionals to do the work for us. |
