CRA confirmed that the following statement from IT-338R2, para. 12 continues to represent its position, notwithstanding the archiving of the Bulletin:
To the extent the former partner has assumed the liabilities of the partnership, that former partner is considered to have made a contribution of capital to the partnership immediately before the partnership ceases to exist. For purposes of subparagraph 98(5)(a)(i), this results in an increase to the ACB of the former partner's interest in the partnership under subparagraph 53(1)(e)(iv).