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Showing results for tags 'principal residence'.
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Markbo posted a topic in Reporting incomeI rented out my principal residence for a few months in 2015 while I was away for work reasons, so I'd like to make an election under paragraph 45(2) of the income tax act that the property use has not changed. The purpose is that the home remains my principal residence, I don't want to be charged capital gains tax, and I don't want to have to repay the outstanding amount in the Home Buyer's Plan right now. Does anybody know how to do that in Ufile? The rental income pages are pretty clear otherwise.
nigelwong posted a topic in Reporting incomeHi, I am trying to report the selling of my apartment. The apartment was purchased in 1999 and it was my principal residence until 2006. since then it has become a rental property. I sold it in 2015, so the captial gain calculated from the selling price - the fair market value in 2006. How do I go about doing that in UFile. Please help. Nigel