When is capital gains payable?

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  • #531
    This may be a dumb question. I’ve always been into the buy hold strategy and we have 3 properties right now but looking to sell 1 since the market is good and we have another strategy in mind.
    When you sell, when is capital gains tax payable? Do you pay at sale or at tax time?

    Hi Jay,

    You pay your capital gains tax with your tax return. I believe its based off the date the contract is signed.

    • This reply was modified 1 year, 4 months ago by LumberJack.

    Great thanks for that

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