When a housing unit is constructed by its owner, when does CRA consider the period of ownership of the housing unit to commence for purposes of the flipped property rules? CRA responded:
[W]here an individual constructs, has constructed or replaces the individual’s housing unit on land that the individual owns, the CRA is of the view that, generally, the individual will be considered to own a housing unit for the purposes of the flipped property rule as soon as the housing unit is habitable. In other words, the date on which ownership of the property begins for the purposes of subsection 12(13) is the date on which the housing unit becomes habitable.