Quote:
Originally Posted by Fuzz
Couldn't you "rent" it out to a family member or friend or "executive housing company" and just have that "rent" go back to your pocket? I'm sure there must be loopholes.
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You are 100% allowed to have a family member stay or rent your property. You are also 100% allowed to have anyone you want stay there for free. The issue is whether or not its occupied.
But once again the main problem becomes how do you prove whether or not a home is "occupied". According to the laws, it has to be occupied for 6 months out of the year or be a principle residence (plus a bunch of other exemptions for death, renovations, etc..). It'd be pretty easy to fake that. Although I could see a lot of people getting themselves into trouble, because if you declare a principle residence in Canada, you are then subject to income tax in Canada.