The taxpayer was unsuccessful in a submission that seven condominiums owned by him, which generated gross revenue of approximately $85,000 in a year, were not rental properties because he had acquired the properties in order to resell them at a capital gain. Bowman C.J. stated (at para. 12) that "the fact remains that the use to which the units were put in the year was the production of rental income. They fall within the definition of rental properties."
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Drupal 7 entity type
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Drupal 7 entity ID
339859
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