Did you sell property this year? Was it your principal residence? If so, complete form TP-274-V, Designation of Property as a Principal Residence, to avoid paying tax on all or part of your capital gain, and send it to us with your income tax return.

Designation conditions

To designate your property as a principal residence, you must meet the following conditions:

• You, your spouse, your former spouse or your child ordinarily used the property as a housing unit during the year.
• You are designating only one property as your principal residence for a given year.

To find out more about these and other conditions, see Designating a Property as a Principal Residence.