12 Tax Rules and Real Estate Gain from sale of principal residence not taxable. Loss from sale of your principal residence not tax deductible. Sale of principal residence must be reported on the personal tax return. If a taxpayer owns more than one home for personal use and/or investment purpose, professional advisor should be consulted for optimal principal residence planning. The rules are complicated. Loss from sale of your real estate investment is considered a capital loss ... Read More
As a non-resident, a little bit of extra tax planning is required when selling Canadian real estate.