In 2015, Tony purchased a vacation property in his sole name in Kelowna. The initial investment was $300,000 and currently the fair market value of the property is $550,000. This year he has decided to transfer half the ownership of the property to his son Zachary. Calculate the taxable capital gain that Tony will incur on the transfer?

Answer rating: 100% (QA)

Kenya taxes capital gains on the transfer of property but there is an exception for transfers betwee... View the full answer