Unlocking the Secrets of Principal Residence Taxation for Property Owners
Delve into the complexities of principal residence taxation with "Mastering Principal Residences." This course navigates the intricate landscape of capital property, examining the doctrine of secondary intention and its implications for house flippers. Explore nuanced topics such as the definition of a housing unit, conditions meeting the ordinarily inhabited rule, and the designation mechanics of a principal residence. From partial dispositions to change-in-use rules, participants will gain expertise in managing properties used for income, multiple housing units, and residences held through trusts. With a focus on real-world scenarios like separation and divorce, this course equips learners with the knowledge to optimize principal residence exemptions within the legal and tax frameworks.
Key Topic Discussed:
• Doctrine of Secondary Intention for House Flippers
• Definition of Housing Units, Including Trailers and Houseboats
• Property Ownership, Including Bare Trustees
• Ordinarily Inhabited Rule and Care Facilities
• Principal Residence Designation and Formula Mechanics
• Properties Used to Earn Income and Incidental Income Concept
• Housing Units on Multiple Properties and Excess of One Half Hectare
• Partial Dispositions and Prior Subdivisions
• Change-in-Use Rules and Elections to Avoid
• Residences Held Through Trusts and Legislative Amendments Impact
• Separation and Divorce Effects on Principal Residence Exemption
FCPA, FCGA, MBA
Michelle Causton is a member of the Canadian Association of Professional Speakers. She is a past-president of CGA Ontario with extensive governance experience on regulatory and not-for-profit boards. She is a retired professor from Nipissing University and Canadore College. Michelle has delivered workshops, seminars and training sessions across Canada and the Caribbean on a variety of topics. Having worked in public practice for many years, she understands the pressures of accounting and the practical application of rules, regulations and best practices. As a life-long learner herself, Michelle is passionate about how to best share information, knowledge (and occasionally wisdom). Her focus is now on-line learning but she won’t say no to an opportunity to speak in person or virtually. Michelle says: “We all learn best when it is interesting and relevant. Appropriate humour can make lessons memorable".
Author, Speaker, and Composer
Darryl Johnson II is a creative thinker based in sunny Southern California. A prolific content creator, he has published several dozen works for wind band, jazz band, and orchestra and is the author of dozens more print and multimedia publications in both the fiction and non-fiction categories. Along the way, he has delivered academic presentations to hundreds of schools in over 40 states and 3 countries and has received regular laudits for a supportive and relatable approach to education. A composer of music and a composer of words, Darryl Johnson II has developed an insatiable interest in a broad range of concepts and ideas that have been refined by fires of art and strategy and he is passionate about inviting others on new and interesting journeys of thought, experience, and design.
Provincial regulators of CPAs in Canada do not require that independent providers of CPD be approved to offer courses. Instead, individual CPAs are responsible for assessing whether a CPD activity meets their requirements, and may take activities from any source provided those requirements are met.
Every course offered on LearnFormula is delivered by a qualified subject matter expert or learning organization, and advances learning objectives that are relevant to the responsibilities or professional competencies of Canadian CPAs. All activities on LearnFormula are quantifiable in terms of hours, and are also verifiable, in that users receive documented evidence of their attendance via a certificate of completion after finishing a course (and this certificate is stored by LearnFormula indefinitely). Nearly 100,000 Canadian CPAs successfully satisfy their CPD requirements via LearnFormula on an annual basis.
