12 January 2018 External T.I. 2016-0669431E5 - Mortgage Investment Corporation Definition -- summary under Paragraph 130.1(6)(f)

In answering a question which it treated as being directed at the scope of s. 130.1(6)(f), CRA referred to the definitions in the NHA of “house” and “housing project,” and stated:

[C]ommercial facilities that form part of a housing project, such as an apartment or condominium complex should not exceed 20% of the gross floor area of the housing project. … [I]n other types of situations where property is used for commercial and residential activities and/or where the particular property is not zoned as being residential, no portion of a mortgage debt on such a property would be considered as being a debt secured by way of mortgage on a house or a housing project for the purpose of subsection 130.1(6) … .

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