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Hello Allan, in one of your videos you talked about purchasing a principal residence using a corporation owned by the owner/main shareholder of the corporation for the person (and family) to live in. In that scenario does the property (purchased/owned by the corporation and inhabited by the owner) still qualify for the principal residence exemption or is it subject to capital gains tax once it is sold?
In this case, the corporation (that owns the property) does not qualify for the principal residence exemption and so when the property is sold in the future for a profit, the profit will be treated as a capital gain subject to taxation.