I bought a property in 2014 and temporality converted it to a rental property between 2021 and 2023. I moved back in to my rental property and it became my principle residence again. I never claimed CCA. I submitted a late election 45(2) to CRA of March this year via mail and aware there will be a penalty for late elections.
Due to aging parents l have to return to my home country next year and plan to put my home on the market in 2025. Does anyone know how long CRA takes to process late elections? I haven’t received any confirmation that they received my election.