Humber/Ontario Real Estate Course 1 Exam Practice

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Prepare for the Humber/Ontario Real Estate Course 1 Exam with our comprehensive quiz. Test your understanding with multiple choice questions and detailed explanations. Build confidence and knowledge for a successful exam experience!

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Capital gains from a taxation perspective include:

Profits made from the sale of property held for over ten years.
Rental income received from tenants.
Profits from the occasional sale of a vacation home.
Wages earned from a real estate job.
Interest income from savings accounts.
Dividends received from real estate investment trusts (REITs).

The correct answer is: Profits made from the sale of property held for over ten years.

Capital gains refer to the profits made from the sale of assets such as real estate, stocks, or bonds. In this case, the correct answer is profits made from the occasional sale of a vacation home, as this aligns with the definition of capital gains. Rental income (B), wages earned from a real estate job (D), interest income from savings accounts (E), and dividends received from real estate investment trusts (REITs) (F) are not considered capital gains for taxation purposes.