Change in Use of Principal Residence, Principal Residence Exemption and Subsection 45(2) Election When there is a change in use of your principal residence, a deemed disposition occurs under subsection 45(1) of the Income Tax Act. The Canadian Tax Act states that a taxpayer will be deemed to have...
Read More
Read more about a Canadian tax lawyer's perspective on how the John Wall case affected the application of principal residence exception to home developers.