A taxpayer bought a home and occupied it as his principal residence for 18 months and then rented one-third of it for 46 months. He then sold the home for a gain of $52,000, which the Minister of National Revenue…
Posts tagged with “Principal Residence”
Where the lands surrounding a principal residence exceed one acre, the excess area only falls within the principal residence exemption if the owner…
On July 10, 1987, the Ministry of Finance closed the loophole referred to in the second example in Column 106 by an amendment to the PPTA…
We can expect publication in late July of regulations to carry out the intent of this Act. These regulations may…
In the first case, the question was whether or not the sale of 9.3 acres made by the taxpayers under threat of expropriation by a municipality, leaving 7/10ths of an acre upon which the taxpayers’ house was situated…