KWB Blog

The latest financial news and accounting tips from KWB.

Jun 18 2019
Principal Residence Exemption

If you have sold your home and it is your principal residence then you should be able to use the principal residence exemption to reduce or eliminate any capital gain for income tax purposes on the sale of the property. CRA states that a principal residence can be a house, cottage, condominium, apartment, trailer, mobile […]

Nov 9 2016
Leasehold Improvements To Your Home Office

Have you made some renovations or leasehold improvements to your home office?  You should be claiming any “repairs” in the year that they occur, but you have some options when it comes to claiming the amortization from leasehold improvements to your home office. However be aware that this option may mean losing your homes principle […]