I am a Canadian citizen. I have been worked for a company in Mississauga, Ontario since 2016. Around this time my dad was diagnosed with illness so in March 2016, he added my name to his property in Markham, Ontario. I lived there for 3 - 4 months. Since it's bit of a drive to and from Markham and Mississauga, I lived with my brother closer to my work in Brampton, Ontario.
I decided to rent the property since I wasn't making enough money to pay the mortgage. In March 2018 I moved back to the property and I lived there for 6-7 months. I sold it in September of 2018 so I could buy a house closer to my work.
(I'VE NEVER EVER OWNED ANY PROPERTY BEFORE. THIS IS MY ONLY PROPERTY)
My parents bought the house in June 2007. My accountant is saying that I have to pay taxes on the capital gain from the property. To make things worse, he mentioned that because I did not buy the property from my parents and I was added to their mortgage, I became a 99% share holder. Therefore I have to pay tax on capital gains based on the date that my parents originally bought the property.
I've found one government page about renting a principal residence, but I find it very confusing. Can anyone help me with this?