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@San Francisco

Yes

kfc2021(kfc2021)

Example 4

Mr. A and his family lived in a house for a number of years until September 30, 2003. From October 1, 2003 until March 31, 2008 they lived elsewhere and Mr. A rented the house to a third party. On April 1, 2008, they moved back into the house and lived in it until it was sold in 2011. When he filed his 2011 income tax return, Mr. A designated the house as his principal residence for the 2004 to 2007 tax years inclusive (that is, the maximum four years) by virtue of a subsection 45(2) election (which he had already filed with his 2003 income tax return) having been in force for those years. (He was able to make this designation because no other property had been designated as a principal residence by him or a member of his family unit for those years.) He designated the house as his principal residence for all the other years in which he owned it by virtue of his having ordinarily inhabited it during those years, including the 2003 and 2008 years. Having been resident in Canada at all times, Mr. A’s gain otherwise determined on the disposition of the house in 2011 was, therefore, completely eliminated by the principal residence exemption

(#14183661@0)
Last Updated: 2021-12-13
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Replies, comments and Discussions:

  • 枫下家园 / 枫下觅巢 / 如果一房子claim 45（2），自住转出租，4年后不能继续45（2），45（1）生效，也就是deemed disposition， 继续出租4或5年，卖房，使用45（3），往回追四年，加上+1 rule，是不是这房子完全免capital gain ? 这期间在外地租房或住家人的房子。 -abcdefghi(9alphabetic); 2021-12-13 (#14183613@0)
    • Yes -kfc2021(kfc2021); 2021-12-13 {1180} (#14183661@0)

      Example 4

      Mr. A and his family lived in a house for a number of years until September 30, 2003. From October 1, 2003 until March 31, 2008 they lived elsewhere and Mr. A rented the house to a third party. On April 1, 2008, they moved back into the house and lived in it until it was sold in 2011. When he filed his 2011 income tax return, Mr. A designated the house as his principal residence for the 2004 to 2007 tax years inclusive (that is, the maximum four years) by virtue of a subsection 45(2) election (which he had already filed with his 2003 income tax return) having been in force for those years. (He was able to make this designation because no other property had been designated as a principal residence by him or a member of his family unit for those years.) He designated the house as his principal residence for all the other years in which he owned it by virtue of his having ordinarily inhabited it during those years, including the 2003 and 2008 years. Having been resident in Canada at all times, Mr. A’s gain otherwise determined on the disposition of the house in 2011 was, therefore, completely eliminated by the principal residence exemption

      • 你这个例子和我说的不太一样。我说的是先45(2)，卖房时45(3)，连续8年或9年出租，然后售出 -abcdefghi(9alphabetic); 2021-12-13 (#14183693@0)
      • 借楼请教，这种情况开始出租的时候需要向政府申请吗？ -tlzyxfs1(sd); 2021-12-14 (#14184373@0)
        • 要。可以延迟补申请，但不一定批，即使批了也要罚钱，罚金每个月100，最多8000. 所以最好报税截止前申请。需要书面申请 -abcdefghi(9alphabetic); 2021-12-14 (#14184391@0)
          • 请问可以延迟多久，有没有最高的期限？ -czczcz(看得清); 2021-12-14 (#14184429@0)
            • 没有。卖房前总得申请吧 -abcdefghi(9alphabetic); 2021-12-14 (#14184591@0)
              • 谢谢啦。 -czczcz(看得清); 2021-12-14 (#14185026@0)

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