Having regard to utilizing the s. 98(5) “bump,”, does “capital property” include “eligible capital property”? CRA responded:
By virtue of subparagraph 39(1)(a)(i)…the gain from the disposition of an “eligible capital property” is excluded from the meaning of a taxpayer's “capital gain” and by virtue of subparagraph 39(1)(b)(ii), the loss from the disposition of an “eligible capital property” is excluded from the meaning of a taxpayer's “capital loss”. Therefore, a “capital property” does not include an “eligible capital property”.
…As discussed in…2014-0529231E5 [below], the “bump” under paragraph 98(5)(c) is only available on capital property (other than depreciable property).