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A little unrelated to OP's question but I figured I'd piggyback on it since it's sort of a grey area question about principal residence. Asking for a friend:
Friend recently sold her house. She had lived in it for several years but moved to the US for work and currently still resides there. Her mom lived in the house during this whole time rent free but recently moved, hence the reason for selling the place.
The question is whether this is considered a principal residence for her from a CRA standpoint? There was no rental income, but I'm wondering if CRA could argue capital gains from the increase in property value. (or is it a moot point seeing that it wasn't ever rented out and earning income)
This is likely a tax professional question (which I'll pose to my accountant as well) but figured I'd throw this one out there and if someone has an answer, it would probably save some bucks since it costs money to talk to any professional these days.
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