I-3 - Taxation Act

Section 935.2.1 Disposition versions

2021-06-02

935.2.1. For the purposes of the definition of “regular eligible amount” in the first paragraph of section 935.1 and despite subparagraph a.1 of the first paragraph of section 935.2, the following rules apply:

(a)  an individual and the individual’s spouse are deemed not to have an owner-occupied home in a period ending before the particular time referred to in the definition of that expression if

i.  at the particular time, the individual has been living separate and apart from the individual’s spouse, because of a breakdown of their marriage, for a period of at least 90 days and began living separate and apart from the individual’s spouse in the calendar year that includes the particular time or at any time included in any of the four preceding calendar years,

ii.  in the absence of this section, the individual would not be precluded from having a regular eligible amount because of the application of paragraph f of the definition of that expression in respect of a spouse (other than the spouse referred to in subparagraph i), and

iii.  where the individual has an owner-occupied home at the particular time,

(1)  the home is not the qualifying home referred to in the definition of that expression and the individual disposes of the home no later than the end of the second calendar year after the calendar year that includes the particular time, or

(2)  the individual acquires the spouse’s right in the home; and

(b)  where an individual to whom paragraph a applies has an owner-occupied home at the particular time referred to in that paragraph and the individual acquires the spouse’s right in the home, the individual is deemed for the purposes of paragraphs c and d of the definition of that expression to have acquired a qualifying home on the date that the individual acquired the right.

2021, c. 14, s. 106.