Rented our house out for 2.5 years between 2022 and 2024.
Filed a subsection 45(2) letter in tax year 2022 and got confirmation from CRA that letter accepted.
Since mid 2024 the house is no longer a rental property and we are the residents.
Question, should we file a 45(3) letter for tax year 2024 now or…not sure.
Thanks
I’m also seeking expert opinion on whether 45(3) is needed where the principal residence is reacquired after renting for some years.
Seeking advice from a CPA or professional tax advisor goes a long way! Especially now that these types of transactions are on CRAs radar.
The attached folio has a lot of information.