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Legal Ease
Legal Ease, Lawyer
Category: Canada Tax
Satisfied Customers: 101048
Experience:  Lawyer
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In 2015 our family sold a property that was inherited from

Customer Question

In 2015 our family sold a property that was inherited from our mother in 2003 when she died. her will stated that she was giving her estate evenly to the 5 children.
The property sold for $500,000 . The value estimated in 2003 was $200,000.
Capital gain is $300.000 divided by 5 = $ 60,000
My taxable rate is on $30,000.
How much would I pay if my income in BC Canada is $ 35,000 for 2015
Thank you .
Submitted: 1 year ago.
Category: Canada Tax
Expert:  Legal Ease replied 1 year ago.

This is not possible to work out because I cannot know what deductions, tax credits etc you will have.

But as a general ballpark figure you can use this calculator. It is likely you will owe somewhat less.