DocumentsPrincipal Residence Attestation in Canada | Free Template
Principal Residence Attestation in Canada | Free Template
Do you need to create a Principal Residence Attestation in Canada? Draft one using our free, customizable template.
A Principal Residence Attestation is a declaration or statement provided by a taxpayer in Canada to confirm that a particular property is their principal residence for tax purposes. It is required when claiming the principal residence exemption for the capital gains tax on the sale of a home.
A Canadian Principal Residence Attestation is:
- A sworn statement confirming that a property is the primary residence of the owner(s).
- Provides evidence of the property’s principal residence status for tax purposes.
- Allows property owners to claim the principal residence exemption for tax benefits.
A Principal Residence Attestation is required by the Canada Revenue Agency (CRA) to ensure that taxpayers are correctly claiming their principal residence for tax purposes.
Principal Residence Attestation
NotaryPro’s online document creator is designed to make the process of drafting and notarizing your Principal Residence Attestation as easy and convenient as possible. Instead of having to make an appointment with a notary public and spend hours drafting a document on your own, you can complete the entire process online from the comfort of your own home.
What details or information does a Canadian Principal Residence Attestation contain?
A Canadian Principal Residence Attestation typically includes the following details:
- Property owner(s) information: Full name, address, contact details, and relationship to the property.
- Property details: Address, legal description, and other identifying information.
- Attestation statement: A sworn statement affirming that the property is the principal residence of the owner(s) for the specified tax year(s).
- Signatures: Owner(s) signature(s), date, and affirmation that the information provided is true and accurate.
- Notarization: The valid signature and seal of a notary public or commissioner of oaths.
When would I need a Canadian Principal Residence Attestation?
Do I need to have my Canadian Principal Residence Attestation notarized?
Having this document notarized isn’t mandatory, but specific situations or parties involved may request notarization for additional assurance.
Frequently Asked Questions
Is the Principal Residence Attestation necessary for all property owners in Canada?
No, the Principal Residence Attestation is typically required only when claiming the principal residence exemption for tax purposes.
Property owners should consult with tax professionals to determine if they are eligible for the exemption.
Can a Canadian Principal Residence Attestation be used for multiple tax years?
The Principal Residence Attestation is only valid for the specific tax year in which the property is sold.
Each year, the taxpayer must complete a new attestation for their principal residence.
Can a Principal Residence Attestation be used for properties held in a trust?
Yes, a Principal Residence Attestation can be used for properties held in a trust, provided that the trust meets the eligibility criteria for the principal residence exemption. The trust’s designated beneficiary can complete the attestation.
It’s important to ensure that you’re using the correct Government of Canada form for your specific situation.
Is NotaryPro’s online drafting & notary service legally recognized?
Yes, NotaryPro’s documents are legally recognized.
NotaryPro’s documents have been accepted by border authorities all over the world, including Canada Border Services and US Customers and Border Protection.
Is NotaryPro’s online drafting & notary service secure?
Yes, NotaryPro uses the latest encryption technology.
Your personal information and documents are subject to the highest level of digital security, and we ensure that your documents are notarized in compliance with all applicable Canadian laws and regulations.
How much does it cost?
It’s free to create your document, although we do offer online notarization for a small fee.
That’s right! Creating your document comes at no cost to you, but if you would like to notarize it at the same time, we’re happy to help. Please find our detailed prices here.