( When you sell your principal residence usually you do not have to report the sale on your income tax and benefit return and you do not have to pay tax on any gain from the sale. This is the case if you are eligible for the full income tax exemption (principal residence exemption), because the property was your principal residence for every year you owned it. )
( On October 3,2016, the Government announced an administrative change to Canada Revenue Agency(CRA)'s reporting requirements for the sale of a principal residence. )