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Apr 29, 2024 10:38 pm
Is Renting 30% Of My Principal Residence A Bad Idea? Does That Expose The Property To Future Capital Gains Charges?
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May 06, 2024 9:36 pm
Hi Franklin,
It's not a bad idea. You can still claim 100% of the principal residence exemption when you sell your house if you do not claim Capital Cost Allowance, you not alter the structure of the home (e.g. by creating a separate basement entrance), and the profit from rent is not your primary motive for keeping the home.