Précis: In March of 2012 Ms. Ngai, a real estate agent, signed an agreement to purchase a condominium along with one of her clients. The client backed out and her nephew, Mr. Ng, took the client’s place. The evidence was that her nephew intended to occupy the condo as his primary residence and that Ms. Ngai was on title (along with her husband, Mr. Kennedy) as a bare trustee. The sale closed in December of 2012. The nephew decided that the commute was too long and put the condo up for lease and then for sale. The agreement of purchase and sale was signed in January of 2013 and the sale closed in February of 2013. Ms. Ngai applied for a New Housing Rebate which CRA refused. She appealed to the Tax Court. The Court accepted her evidence, and that of her nephew, and allowed her appeal. There was no order as to costs since this was an informal procedure appeal.
Ngai v. R. - TCC: Taxpayer purchased house as bare trustee for nephew, entitled to New Housing RebateREAD MORE »