By Michelle Kosarnia and Elias Zafiridis ( September 10, 2024, 3:05 PM EDT) -- When transitioning your principal residence into a rental property, or vice versa, the tax implications can be complex. Understanding these nuances is crucial for making informed decisions and effectively managing your tax liabilities. This article provides a comprehensive overview of the relevant provisions of the Income Tax Act (ITA) and their implications for property ownership and use changes....