Real Estate

the quick (re)building and sale of three successive residences was eligible for the principal residence exemption

annual purchase, improvement and sale of homes following their occupation was on income account

subdivision of a residential land into around 30 serviced building lots by the purchaser-developer did not scupper capital gains treatment

an LP sold a seniors' residence shortly after construction to an unsolicited purchaser on income account

taxpayer intended from the outset to sell its interest in the project while remaining as a tenant

Court of Quebec reversed: taxpayer realized gains on three condo sales in quick succession on capital account

a family realized capital gains from the sale of 3 newly-constructed residences in 3 years

purchase of rental building with intention to resell within a few years generally on income account

subdivision of rental property prior to sale of individual units did not detract from capital account treatment

a resale of a house by a renovator within one year gave rise to a capital gain