CRA Tax bulletin on sale and rental of caretaker suite

PRINCIPAL ISSUES: Will a condominium corporation maintain its exemption in these situations: 1) Sale of caretaker suite at FMV; 2) Rental of caretaker suite at FMV; 3) Conversion of caretaker suite into a guest suite; 4) Appropriation of caretaker suite for other purposes such as, for example, a fitness/health centre.

To read the complete CRA Bulletin, click here.


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