6 October 2017 APFF Roundtable Q. 3, 2017-0709011C6 F - Désignation d’un bien comme résidence principale -- summary under Paragraph 40(2)(b); Paragraph 40(2)(b)

On page 2 of Schedule 3 of the return for the year of disposition of a principal residence, if the individual checks the box for Case 1, would this (by virtue of this effectively being a designation for all the years during which the taxpayer was owner) result in wasting the extra year under the “+1” computation? CRA stated:

Box 1 may be checked to designate [the house] as the individual’s principal residence for all years (or for all years less one year). … [T]he CRA will not require Form T2091 to be completed… .