Bryan Mills has a very particular set of skills required across many parts of the world. Bryan owned a condo in Toronto, a ski chalet in Whistler, BC, and a villa in Malta, Europe until June 15, 2017 when he sold all three properties and moved into a seniors residence. He provided the following information with respect to the properties:

Property

Year Acquired Cost

Selling Price (net of commission and other selling costs) Toronto 2011 $400,000 $480,000 Malta 2012 $200,000 $265,000 Whistler 2014 $300,000 $356,000

For the years that Bryan owned each property, he ordinarily inhabited it at some time in the year. He tended to spend the months of January to April in Malta and split the remainder of the year between his condos in Toronto and Whistler.

Required: 9 Marks (a) Determine the minimum taxable capital gain to be reported by Bryan on the sale of the three properties. (b) Explain how would the answer change if Bryan had moved out of the Toronto condo in 2013 when it was worth $410,000 and earned rental income from the Toronto condo from that date until he sold it in 2017?