For the last 5 years I have had to pay tens of thousands of dollars in capital gains tax whilst living just slightly above the poverty line. I own a house in an oil town in saskatchetwan that I was forced to leave due to unemployment. I rent the house out for less than the cost of the mortgage payment, but because I'm collecting a rental income the government charges me capital gains on it. I make less than $30,000 per year. Is there any way to avoid this tax?
Read more: Why do I have to pay Capital Gains Tax?
