Discover how CRA’s little-known 45(2) and 45(3) elections can save homeowners thousands in capital gains tax when converting a home to a rental or moving back in. These elections defer deemed dispositions under Income Tax Act s.45(1) and preserve access to the Principal Residence Exemption (PRE) — in some cases for up to four extra years. Learn how strategic planning with change of use rules can unlock massive tax savings and avoid unexpected bills when selling your property.

This blog explores Canadian tax residency rules for individuals and corporations, tax treaties, and compliance essentials!