S.69(1)(a) applied to reduce the capital cost to a partnership of depreciable property purchased by it to the property's fair market value rather than the higher purchase price given that the same individual controlled both the vendor and the general partner of the partnership (as well as being the sole initial limited partner at the time of the purchase). It was not relevant that some of the limited partners, who dealt at arm's length with the controlling individual, subscribed for units in the partnership in the year of the purchase, but subsequent to the time of the purchase.
Topics and taglines
Tagline
common control at time of purchase by GP - LPs came in later
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
337518
Extra import data
{
"field_legacy_header": "<strong><em><a id=\"Deptuck\"></a>Deptuck v. The Queen</em></strong>, 2003 DTC 5273, 2003 FCA 177 <strong>[common control at time of purchase by GP - LPs came in later]</strong>",
"field_override_history": false,
"field_sid": "",
"field_topic_category": ""
}
"field_legacy_header": "<strong><em><a id=\"Deptuck\"></a>Deptuck v. The Queen</em></strong>, 2003 DTC 5273, 2003 FCA 177 <strong>[common control at time of purchase by GP - LPs came in later]</strong>",
"field_override_history": false,
"field_sid": "",
"field_topic_category": ""
}