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Originally Posted by MillerTime GFG
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This makes sense. From the earlier reports, the "changes" to the principal residence exemption sounded just like the original concept for the principal residence exemption. I didn't realize you didn't need to report anything, when claiming the exemption. As complicated as it might be, these reporting obligations make sense. Sell a house, consider whether it is exempt by virtue of the PRE. Doesn't target foreign owners per se, and in fact might catch more residents who improperly aren't paying tax.
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From HFBoard oiler fan, in analyzing MacT's management:
O.K. there has been a lot of talk on whether or not MacTavish has actually done a good job for us, most fans on this board are very basic in their analysis and I feel would change their opinion entirely if the team was successful.
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