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The gain realized on the sale of a principal residence is not taxable. A gain realized on the sale of other real estate held at least 30 years, however, is not taxable, although this will become subject to 15.5% social security taxes as of 2012. (There is a sliding scale for non-principal residence property owned for between 22 and 30 years.)
The buying and selling of property is normally done through a real estate agent who work on a financial commission and act as a broker between buyer and seller. As well as brokers, the sale of property can be done with the aid of a lawyers (commercial sales), notaries (Quebec), surveyors, title insurers or third party consultants. [2]
Although property assessment originally came under the jurisdiction of Upper Canada, it was transferred to Ontario municipalities in 1849. Over time, each municipality developed its own assessment system and methods of valuing property. This resulted in inconsistencies in property assessment and the distribution of property taxes.
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PropertyGuys.com Inc. is a Canadian private sale real estate, or FSBO, franchise marketing company based in Moncton, New Brunswick.With over 100 franchise locations across Canada and thousands of active listings on its site, it is the largest private home sale network in North America.
Outbreaks of the highly contagious stomach virus are more than double what they were last year, the Centers for Disease Control and Prevention says
Luigi Mangione, 26, was charged with murder late Monday in the Dec. 4 shooting of UnitedHealthcare CEO Brian Thompson in New York City after police in Altoona, Pa., were called to a McDonald’s ...
The Art Deco façade of the former Toronto Stock Exchange building. The Toronto Stock Exchange is the largest in Canada.. As the country’s commercial and financial hub and one of the largest financial centres in the world as per the British Global Financial Centres Index, Toronto hosts the Toronto Stock Exchange (TSX), the third largest stock exchange in the Americas by market capitalization ...