• Your home

    While your home is generally exempt from tax, if you rent out part or all of it (or otherwise use it to produce income) you must include the income in your tax return (and you can claim the associated expenses) and you may have to pay capital gains tax when you sell it.

    You should keep all the records relating to your home so that if circumstances change (you start to rent it out for example) you don't pay more tax than necessary.

    If you work at home you may be able to claim a deduction for some of the expenses relating to the area you use.

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    The information in this section (Your home) applies to dwellings owned or rented out by individuals, but not to dwellings owned or rented by companies or trusts.

    Last modified: 01 Nov 2016QC 23615