Selling a rental property to buy another one

Marvin · Post by **Marvin** » Wed Mar 30, 2005 2:11 pm

I would like to know if I have to pay taxes if I sell a rental property in Canada and invest everything buying another rental property. Are any other options?

nelsona · Post by **nelsona** » Wed Mar 30, 2005 4:46 pm

Canada does not have the US-style method of allowing one to roll over investement propert proceeds from one place to another without incurring tax.

For US tax purposes, you could do this as long as the properties are both in Canada, but since you are being atxed by Canada, you might as well be taxed by US and get the credit.

<i>nelsona non grata... and non pro</i>