residence

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Related to residence: place of residence

Residence

The place where a person lives most of the time. A residence may be eligible for certain tax breaks. For example, one may be able to write off the interest on a mortgage on a primary residence. Various rules exist to determine what constitutes one's residence for tax purposes.

residence

The place where one lives.

References in periodicals archive ?

Foreign dignitaries stay in a residence located close to Rideau Hall.

Canada's official residences ... Who lives where?

In addition, the RSC paid the cost of maintaining the residence until a third party purchased the property, including mortgage and property tax expenses (although the employee continued to be legally responsibility for those items).

Service clarifies position on employer payments to relocation service companies

114 luxury condominium residences feature floor-to-ceiling glass with most homes enjoying unparalleled panoramic views that sweep across Prospect Park or feature the stunning span from Brooklyn to Manhattan, from the Verrazano Bridge to Manhattan's Chrysler and Empire State buildings.

New Meier masterpiece On Prospect Park

Special basis rules apply if a taxpayer receives a personal residence as a gift, bequest or payment for services rendered.

Home sweet home: ascertaining the tax basis of a personal residence

The diocese of Fredericton, which includes all of New Brunswick, calls its residence Bishop's Court.

Montreal's Bishopscourt on the market: large house does not suit new bishop

CMC is planning residences in downtown Miami where the Miami River merges with Biscayne Bay, plus a $100 million condominium high-rise building in Coconut Grove.

The neighborhood trend setters: urban chic arrives in South Florida

Under a safe harbor, the primary reason for the sale or exchange is deemed to be a change in place of employment if a qualified individual's new place of employment is at least 50 miles farther from the residence sold or exchanged than was the former place of employment.

Home seller's gain: new regs favorably implement reduced maximum exclusion. (Federal Tax)

Court of Appeals for the Fourth Circuit found that the warrant to search the defendant's residence was not facially defective, even though the affidavit contained no facts expressly stating that the gun and silencer were in the defendant's residence.

Inferring probable cause: Obtaining a search warrant for a suspect's home without direct information that evidence is inside. (Legal Digest)

Briefly, the regulations require that the governing instrument prohibit the trust from holding any asset other than one residence, to be used as the personal residence of the term holder, and qualified proceeds.

Sec. 2702 - special valuation rules personal residence trust

This relationship indicates that as problem areas increase, resident activities within the residence decreases.

Job satisfaction of staff in unionized and non-unionized community residences for persons with developmental disabilities

W Hotel & Residences provides the same comfort, convenience, and spectacular views as pricier Manhattan homes," says Jacqueline Urgo, executive vice president of The Marketing Directors.

Condo hotel arrives in Hoboken

In addition, a taxpayer need not use a safe-harbor method; he or she may use the actual reduction in FMV of the residence or personal belongings, if the losses can be adequately and properly substantiated.

Safe-harbor methods for claiming casualty and theft losses from 2005 gulf hurricanes