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Pro rate exemption on primary residence?

Posted 18 December 2014

Would I qualify for pro rata primary residence exemption if I let my house for 7 years while out the country. The property was purchased in July 2001 as my primary residence then rented out from June 2006 to date of sale March 2013. I have not lived in the house since May 2006.

TaxTim Marc TaxTim Marc said:
23 December 2014 at 12:16

Yes, the gain would need to be apportioned between the periods and the primary residence applied.

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