10 October 2003 Roundtable, 2003-0030095 F - Inter. Between Sub. 13(21.2) & 88(1) of ITA -- summary under Subsection 13(21.2)

Where a subsidiary corporation has had s. 13(21.2) apply to a transfer of depreciable property to its parent corporation, and the subsidiary is then wound up under s. 88(1), ss. 88(1)(e.2) and 87(2)(g.3) will deem the parent corporation to be a continuation of the subsidiary corporation for the purposes of applying the rules in s. 13(21.2) to the parent corporation in respect of the denied terminal loss.