…(b)… Gifts of property acquired in the circumstances contemplated in subsection 70(5) are not included in the list provided in paragraph 248(37)(g). Consequently, subsection 248(35) may apply if all conditions provided therein are satisfied. If the property that is the subject of the gift by the taxpayer was acquired during the three-year period ending at the time of the donation from a person with whom the taxpayer did not deal at arm's length, but the property was acquired by the taxpayer by reason of the death of an individual, as in the situation described, subsection 248(36) would not apply.
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d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
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Extra import data
{
"field_editor_tags": [],
"field_roundtable_subquestion": "10",
"field_stub": false,
"field_legacy_header": "<a href=\"/?p=32019\">10 October 2014 APFF Roundtable, Q. 10, 2014-0538641C6 F</a> [bequest on FMV basis] (a) Would the exclusion in s. 248(37)(g) apply to property acquired under s. 70(6) on the death of a spouse or common law partner less than three years before the property gifted to a qualified donee? (b) If the property was transferred at fair market value from a deceased spouse or common-law partner under subsection 70(5), and then gifted, would the donor qualify for the charitable donation credit on the increase in value between the acquisition date of the property on the death of the spouse or common-law partner and the date of the gift when the donation is made within three years after such death? Would the date of acquisition of the property by the deceased be taken into consideration? CRA responded (TaxInterpretations translation)"
}
"field_editor_tags": [],
"field_roundtable_subquestion": "10",
"field_stub": false,
"field_legacy_header": "<a href=\"/?p=32019\">10 October 2014 APFF Roundtable, Q. 10, 2014-0538641C6 F</a> [bequest on FMV basis] (a) Would the exclusion in s. 248(37)(g) apply to property acquired under s. 70(6) on the death of a spouse or common law partner less than three years before the property gifted to a qualified donee? (b) If the property was transferred at fair market value from a deceased spouse or common-law partner under subsection 70(5), and then gifted, would the donor qualify for the charitable donation credit on the increase in value between the acquisition date of the property on the death of the spouse or common-law partner and the date of the gift when the donation is made within three years after such death? Would the date of acquisition of the property by the deceased be taken into consideration? CRA responded (TaxInterpretations translation)"
}