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CRA announced on Oct 3 2016 mandatory reporting of the sale of your home on your annual income tax forms effective for the current tax year.

It gets better because you also have to make a principle residence election whether you have a second property or not.

You have to do this in order to qualify for the PRE (Principle Residence Exemption). CRA has indicated that if you don't do this you may not qualify for the PRE when you sell your home.
Posted 3:43 PM

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