Francoeur – Cour du Québec finds that a somewhat quick flip by a builder was eligible for the principal residence exemption

Aubé, JCQ found that an entrepreneur who had followed a pattern of building and selling residences, realized a capital gain eligible for the principal residence exemption where he built a home to the exacting requirements of his spouse, and then sold it at a gain somewhat over three years after having purchased the vacant lot. She stated:

The financial situation motivated the sale of the property. Mr. R. F. stated that… his lines of credit had reached their limit. …

Although Mr. RF works in the construction industry, this does not deprive him of the right to acquire and sell his principal residence if circumstances make it unavoidable or desirable, even if the transactions occur over a relatively short period of time.

Neal Armstrong. Summary of Francoeur v. Agence du revenu du Québec, 2016 QCCQ 11906 under s. 9 – capital gain v. profit – real estate.