The reference in s. 87(b) to a "reserve" does not include surrendered lands.
It was stated, obiter, with respect to s. 87(a) that a band "is probably exempt from capital gains tax on the sale of absolutely surrendered lands."
The reference in s. 87(b) to a "reserve" does not include surrendered lands.
It was stated, obiter, with respect to s. 87(a) that a band "is probably exempt from capital gains tax on the sale of absolutely surrendered lands."