About Susan Gozali Expertise I can help you in questions regarding mortgage/financing in Canada. I'a mortgage expert, having access to over 90 lenders, including banks, credit unions, trust companies, and even private lenders. I handle both residential and commercial properties. Please do not hesitate to ask me if you have any questions regarding those matters.
Experience I have access to the most creative alternative lending products out there, meaning unlike your bankers, I deal with clients with less than perfect credit rating. In addition, I also deal with self-employed borrowes and foreign investors. My latest project is to help renters achieving their dreams of becoming homeowners.
Education/Credentials Licensed Mortgage Broker of BC
Expert: Susan Gozali Date: 6/25/2008 Subject: capital gains
Question If I were to inheret my mom's house I understand that I would have to pay capital gains on the difference of the original purchase price and the current sell price. First; Do you know tax rate that would be?
Second; How long would I have to live in the house to avoid paying the capital gains?
Answer Hi Greg,
I believe they would basically add 50% of the capital gain as your income that year and tax it accordingly.
I would suggest you to consult with your lawyer or your accountant regarding this matter. He/she would know more details about the issue.
