Brown v. Canada, 2003 DTC 5298, 2003 FCA 192 (FCA) -- summary under Paragraph 96(1)(g)

By services, 28 November, 2015

In finding that an acquisition of property by a partnership of which the taxpayer subsequently became a member was subject to paragraph 69(1)(a) of the Act, with the result that the capital cost of the acquired property was reduced, Rothstein J.A. stated (at p. 5302) that:

"Any matter relevant to the computation of partnership loss, including the effect of any acquisition or disposition of property, must be determined as if the partnership is a separate person ... . The question is not whether an individual who decided to become a member of the partnership that was acquiring property made his decision to enter the partnership independently."

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