Regarding a query on the interaction between ss. 14(3) and 24(2) on a transfer of goodwill and an entire business by an individual to a corporation controlled by the individual, CRA stated:
[I]n general, where the conditions for the application of subsection 14(3) are satisfied, subsection 14(3) takes precedence over the application of subsection 24(2), because of the opening words of that subsection: "Notwithstanding any other provision of this Act.... ". However, we would need to consider a specific situation … before making a final determination.