Thanks for quick response. Just to clarify please. This means that I would take the diff between (market value of the property when it became an income property) - (purchase price + improvement costs) and CGT would be levied on this sum. There would be no possibility to apply any partial exclusion, even for the period we lived in the home and this formula - Total Period of Non Qualified Use / Total Ownership Period X Gain on Sale of Property - cannot be used. Even if we had to move out the property because of work. Is that correct ?
