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February 9, 2024
Question

What does principal residence mean?

  • February 9, 2024
  • 1 reply
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    1 reply

    February 9, 2024

    As per the Canada Revenue Agency (CRA): Your principal residence can be any of the following types of housing units:

    • a house
    • a cottage
    • a condominium
    • an apartment in an apartment building
    • an apartment in a duplex
    • a trailer, mobile home, or houseboat

    A property has to qualify to be a principal residence.

    A principal residence is usually the residence you choose to live in.

     

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