My question is: Canadian-specific
QUESTION: I have an 8 suite apartment building held inside a limited company, I would like to sell it and buy another apartment. Can you tell me how much I would pay in capital gains tax? The amount of the gain is $1.5 million. I am assuming that the percentage paid for a limited company is different from an individual? Thank you so much! ---------------------------------------------------------------------------
david ingram replies:
Assuming that the property in in
British Columbia, the Corporation tax should be about $256,000
Manitoba $273,000
New Brunswick $263000
Nova Scotia $286,000
Saskatchewan $273,000
Newfoundland 271,000
North West Territories $254,000
Every province is different as you can see. �
