Vancouver British Columbia Real Estate capital gain

The sellers must pay tax on 50% of the net profit gained from proceed of sale of their property to

the government as the Capital Gain unless the owner uses the property as his (her)

primary residence if the owner has more than one property the government

would consider the non residing properties as rental or investment property so they might be subject to

the capital gain tax once they are sold and 50% of the net profit should be added to that year income, The

followings are the Federal and Provincial tax rates for the 2008 tax year.

BC Personal Income Tax Brackets and Rates - 2008 Tax Year

Federal tax rates for 2008 are:

	15% on the first $37,885 of taxable income, +
	22% on the next $37,884 of taxable income (on the portion of taxable income between $37,885 and $75,769), +
	26% on the next $47,415 of taxable income (on the portion of taxable income between $75,769 and $123,184), +
	29% of taxable income over $123,184.

Basic Personal Exemption $ 9600.00

General

Buyers

Sellers

Sutton Group - West Coast Realty

# 300 - 1497 Marine Drive, West Vancouver, B.C. V7T 1B8, Canada

Tel: 604-925-1111 Fax: 604.925.1394 Email: info@mikeshafie.com