Fundamentally, whether you will pay tax depends on the use you made of the home. In Canada, there is generally entitlement to one principal residence for which a full exemption from paying capital gains tax can be obtained. Investment properties are subject to capital gains taxes though . The amount of tax you pay on investment properties fundamentally depends on the difference in price between what you paid for the property and what you sold it for, after expenses are counted. A good accountant will help you with this.