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Appeals dismissed; condominium sale was an adventure in the nature of trade and subject to GST.
The appellant purchased a pre-construction condominium in 2015 and sold it in 2018, claiming the principal residence exemption.
The Minister reassessed her under the Income Tax Act, including the gain as business income from an adventure or concern in the nature of trade, and under the Excise Tax Act, finding she was a builder required to collect GST on the sale.
The Tax Court dismissed both appeals, finding the appellant acquired the property with a speculative intent and did not occupy it as a place of residence.
