When is capital gains payable?

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  • #531
    JaySang
    Participant
    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?
    #540
    LumberJack
    Keymaster

    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 10 months, 2 weeks ago by LumberJack.
    #555
    JaySang
    Participant

    Great thanks for that

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