If we buy a home, live in it and renovate it, spending 12+ months and several thousand dollars and then sell it, is it tax free capital gains?
I've read IRD determine what your intention was when you bought it, but who is to say they can prove our intention wasn't to keep it?
Considering this vs buying properties we don't live in, buy/renovate/sell within a couple of months which is undoubtedly taxable. Flipping essentially.
I've read IRD determine what your intention was when you bought it, but who is to say they can prove our intention wasn't to keep it?
Considering this vs buying properties we don't live in, buy/renovate/sell within a couple of months which is undoubtedly taxable. Flipping essentially.
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