Marginal note:Return required
7 (1) A person that is an owner (other than an excluded owner) of one or more residential properties on December 31 of a calendar year is required to file a return for each residential property for the calendar year.
Marginal note:Return not required — regulations
(2) Despite subsection (1), a person is not required to file a return for a residential property for a calendar year if the person is a prescribed person or if the residential property is a prescribed property.
Marginal note:Return required — regulations
(3) Despite subsection (1), a person is required to file a return for a residential property for a calendar year if the person is a prescribed person.
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