Sentences with phrase «exemption on a primary residence»

Morneau initiated regulatory changes that make it more difficult to get home loans, but he so far has stayed away from sacred housing sops, such as the capital - gains exemption on primary residences and the ability of first - time buyers to use their tax - protected savings to purchase homes.

The government, likewise, says it doesn't know how much tax revenue it may be losing because sellers are inappropriately claiming the capital - gains exemption on a primary residence when they don't actually live in Canada.

Not exact matches

California, for instance, allows qualified disabled veterans to receive a property tax exemption on the first $ 196,262 of their primary residence if their total household income does not exceed $ 40,000 and the veteran is 100 percent disabled as a result of service.

A disabled veteran in Arizona may receive a property tax exemption of $ 3,000 on his / her primary residence if the total assessed value does not exceed $ 10,000.

A disabled veteran in New York may receive one of three different property tax exemptions on his / her primary residence.

If you fail to meet IRS qualifications for your primary residence and must relocate due to uncontrollable circumstances such as a decrease in income or a job transfer, you may still qualify for a partial tax exemption on your home sale profits.

A disabled veteran in Georgia may receive a property tax exemption of $ 60,000 or more on his / her primary residence if the veteran is 100 percent disabled, depending on a fluctuating index rate set by the U.S. Secretary of Veterans Affairs.

A disabled veteran in Pennsylvania may receive a full property tax exemption on his / her primary residence if the veteran is 100 percent disabled as a result of wartime service.

The Canada Revenue Agency offers a tax exemption on the sale proceeds of each family's primary residence.

Joint filers are afforded a $ 500,000 exemption on the sale of a primary residence and single filers are allowed $ 250,000.

It is childs play to enhance debtors rights in bankruptcy by allowing judges to reduce debt on primary residences (after all, other types of debt can be restructured, including corporate debt), by increasing exemptions to, say the generous levels provided in Florida, and let FNM and FRE go belly up.

Their primary target were people who tried to shelter profits from tax using the Principal Residence Exemption (see here for more on that story or go here for an explanation on how the principal residence exemption shelters sellers from capital gains taxes) but people who made a significant income using real estate investments were also Exemption (see here for more on that story or go here for an explanation on how the principal residence exemption shelters sellers from capital gains taxes) but people who made a significant income using real estate investments were also exemption shelters sellers from capital gains taxes) but people who made a significant income using real estate investments were also targeted.

In addition, foreign exemption from capital gains taxes on Canadian real estate were limited to primary residences.

One of the primary reasons Chapter 13 allows debtors to retain all property of the estate, whether exempt or not, is to allow debtors to hang on to their personal residences even though applicable exemption law would not otherwise allow this.

If we build a new primary residence on property that we own in another state (PA) before closing on the current residence, will we still qualify for the $ 500,000 exemption from capital gains?

For example, the homestead exemption is available on owner - occupied primary residences.

Also, aside from the mortgage issue, I don't know what state you live in, but if your state gives you a homestead exemption on your property taxes for your primary residence, the county may require you to notify them if part of the premises are being rented out to someone so that they can adjust the exemption amount.

The legislation passed by the Senate included changes to the exemption for gains from the sale of a primary residence, elimination of the deduction for state and local income or sales taxes, a cap on the deduction for real property taxes, elimination of the deduction of interest on home equity loans (unless the proceeds of such loans were used to substantially improve the residence), restrictions on the deduction for moving expenses to only active duty military, and restrictions on the deduction for personal casualty losses to Presidentially declared disasters.