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Rental Property - Change of use

Many years ago I took a taxation class and I remember that change of use was talked about in class. I have this situation this year. I have not been able to locate any information on the CRA website. Your help in finding the information would be greatly appreciated.

There are a couple of different scenarios - what is your client’s? One of the factors is whether he is moving out/into the rental property to/from abroad or not for instance. Another is how long it was/will be a rental property. Do they have any other properties?

Hey Laurie, They are a married couple that are moving into the rental home. It was a rental property for four years.

John

ITA Section 45

(Also S40, S54, and S54.1)
(Also clause 2.54 of S1-F3-C2, depending if a S45(3) election is in force))