The “Big Five” Canadian banks offer investment funds and include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Let’s explore the best place for you to invest.
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Do you pay capital gains tax when separating or divorcing?
– moneysense.ca
I just read your article on paying capital gains on a property inherited from a spouse when there was no official separation agreement in place. Interesting, and I have a related question. If spouses separate with an official separation agreement but keep the matrimonial home and mortgage in both names, as one spouse living in the house and assuming all payments, does the spouse that leaves have to pay capital gains at that time or later when the home is finally sold? If ever?–Mark
Capital gains tax when separating or divorcing
When spouses separate or divorce, there is often an equalization of net family property and a transfer of assets between them. Spousal or child support payments may also be required to be paid from one spouse to the other thereafter.
Money in a registered retirement savings plan (RRSP), or similar retirement account, can be transferred from one spouse to another without triggering any tax implications such that the funds remain tax deferred.
Likewise with capital assets—like non-registered investments, rental properties, or private company shares—that may be subject to capital gains tax…
