Is there a capital gains tax on a real property sale if I don’t live in Canada and have a low income?

How do you calculate capital gains on sale of property in Ontario?

To calculate your capital gain or loss, subtract the total of your property’s ACB, and any outlays and expenses incurred to sell your property, from the proceeds of disposition.

How do I avoid capital gains tax on real estate in Ontario?

The main way of avoiding paying capital gains tax on inherited property in Canada is to make that property into your primary residence. If the home was the primary residence of the person who passed it on to you, then you or the estate will not owe capital gains tax upon your taking possession.

Do you have to pay capital gains when you sell your house Ontario?

When you sell your home or when you are considered to have sold it, usually you do not have to pay tax on any gain from the sale because of the principal residence exemption. This is the case if the property was solely your principal residence for every year you owned it.