AP $8-7($Principal Residence Designation$)$ Mr$.$ Stewart Simms has lived most of his life in Vancouver. In the year $2000,$ he purchased a three bedroom home near English Bay for $$125,000.$ In $2005,$ he purchased a cottage in the Whistler ski area at a cost of $$40,000.$ In all subsequent years, he has spent at least a portion of the year living in each of the two locations. When he is not residing in these properties they are vacant. On October $1,2024,$ Mr$.$ Simms sold the English Bay property for $$915,000$ and the cottage in Whistler for $$720,000.$ Mr$.$ Simms wishes to minimize any capital gains resulting from the sale of the two properties