Gary Chin purchased his first home in 1999 for $350,000. The residence was in Toronto, and when he was transferred to Windsor in 2010, he decided to rent out the Toronto home rather than sell it. At the time he moved, the residence was worth $450,000. Gary rented an apartment in Windsor with the expectation of moving back into his Toronto residence on retirement. In January 2016, Gary received an unsolicited offer of $550,000 for the Toronto residence and sold it. What are the 2010 and 2016 subdivision C consequences for Gary if: a) He does not file an election under 45(2) b) He does file an election under 45(2)