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Apr 19, 2023 2:20 pm
My personal residence (detached house and separate shop) is on 10 acres of my land. The house and shop occupy 2 acres and the other 8 acres are vacant. Can I claim the house and shop and all 10 acres of the property as my principal residence for capital gains tax purposes when I sell?
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Apr 24, 2023 1:59 pm
Only 1.2 acres of the land on which the primary residence is situated will qualify for the principal residence exemption. The shop will not qualify.