That's right. There was a lot of consideration given to making sure the tax didn't apply in situations in which it was unfair, so there are a series of exemptions.
I can go through them all, but generally speaking the categories are that there are exemptions based on the occupant of the residential property if it's your primary place of residence, for example.
There are exemptions based on the location and use, such as the vacation exemption, which we were talking about.
There are exemptions based on the property conditions, so if it's a new construction, or it's not suitable to live in year-round, or it's uninhabitable because of a disaster or renovations, for example.
Then, of course, there are exemptions based on the type of owner, so even though you have to file, you're entitled to an exemption if you're a Canadian corporation that is 90% or more Canadian owned, etc.