Kanac

**🏠 Principal Residence Exemption: What You Need to Know!**

If you sold your home in 2023, you might be eligible for the **Principal Residence Exemption (PRE)**, which can help you avoid paying capital gains tax on the sale. But there are important rules to consider:

✔ Only **one property** can be designated as your principal residence per year.
✔ The property must be used **primarily for personal use**.
✔ Report the sale on your **tax return** if you want to claim the exemption.

Not sure if your property qualifies? Kanac Accounting can guide you through the process to ensure you maximize your tax benefits.

📩 DM us to schedule a consultation today!



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💸 CRA March 2025 Benefits Payment Reminder! 💸

Friendly heads-up! CRA benefits payments are scheduled for this month—don't miss them. Stay financially organized and let us help you with your tax planning and benefit optimization.

💼 Kanac Accounting Professional Corporation
📧 [email protected]
📱 226-978-5746