Supplement Peter Lee (613)957-2745
March 25, 1988
Dear Sir:
Re: Definition of "dwelling" in subparagraph 15(2)(a)(ii) of the Income Tax Act (the "Act")
Further to our letter of January 26, 1988, after further review, including consultation with our legal counsel, we are writing to inform you that our interpretation of the term "dwelling" is different from the one stated in our previous letter.
The term "dwelling" is not defined in the Act and hence one must look to the ordinary meaning of the word. While the term "dwelling" is not susceptible to precise definition, it would in our view include a house, apartment in a duplex or apartment building, a condominium, cottage, mobile home, trailer or houseboat. However, we feel that, a share of the capital stock of a co-operative housing corporation would not qualify as a "dwelling" for the purpose of subparagraph 15(2)(a)(ii) of the Act because the ordinary meaning of the word "dwelling" does not extend to include such share.
This opinion is not an advance ruling and accordingly it is not binding on the Department. The Department of Finance has been informed of our above-noted view. We apologize to you for any inconvenience.
Yours truly,
for Director Financial Industries Division Rulings Directorate