Change of principal residence?

本帖由 xiongBaoDiDi2012-01-24 发布。版面名称:财务会计

  1. xiongBaoDiDi

    xiongBaoDiDi 新手上路 ID:90117

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  2. Sorry can't type Chinese.



    I have a question regarding changing of principal residence. I moved to new home and rented the old home.



    I remembered there seems to be 1 year flexible time that I can treat both places as principal residence? Is that right?



    But in that case, say if I want to keep my old home as principal residence for 1 more year, I won't be able to report CCA for that year either, right?



    Which is best option for me now?



    Thanks!
     
  3. T&G

    T&G 新手上路 ID:97324

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    In any year, you can only have one as your principal residence.

    Your principal residence become a rental property, you can elect to have the rental property continue to be your principle residence for the 4 years after it became a rental property. You will need to make the election when you file your tax return.
     

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