Hi I sold my house last year. I have been receiving CPP disability benefits now for 2 years. I have terminal Cancer. My question is do I have to report any capital gain (equity) made from my sale of my house to CPP disability ? My understanding is that they are only really interested in additional money you have earned like from a job not investment income like sale of personal property. Thanks very much
No you do not have to report any capital gains from selling your home to CPP-D. You are correct that you only have to report income earned from employment.
Thank you for your quick response. Would the same thing apply to interest I earn from investments such as GIC’S etc? I mean I know if they are not tax shelted then I have to pay tax on the interesat earned but does CPP disability care about the interest earned?
You are correct, CPP only cares about employment income.
My sympathies go out to you.
Thank you all for your excellent replies. Enjoy your life!!!
Principal residence there is no income, it is a tax free gain on any increase in value.
You do have to report the sale of your residence now, in the year you sold it. I believe CRA wishes to track information related to sales so they can find people abusing the system.
Hi TryToSmile, yes you are correct. I reported the sale of my house to the CRA when I filed my taxes for 2017. Thanks