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| | Capital Gain Tax |
 | | Since 1 997, a portion of a gain made on the sale of your principal home has been excluded from CGT, so homeowners can avoid tax on a gain of up to $250,000 for a single person and up to $500,000 for a married couple filing jointly. |
 | | If your gain exceeds the exclusion amount, it’s subject to CGT as a long-term capital gain, even if you intend to buy a new residence at a price exceeding the sale price of the old residence. |
 | | Gains from collectibles such as works of art, antiques, rugs or coins, however, remain subject to the 28 per cent maximum rate. |
| www.sitzone.com /capital-gain-tax.html (721 words) |
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