CRA applies its single property doctrine to tracking LP units

CRA’s position, that a partner holding different classes of partnership units has only one property for ITA purposes, obtains even where the units in question are tracking units which participate in the results of respective subsidiary LPs held by the top-tier partnership in which that partner is invested – so that it will have a single blended ACB for its units.

Neal Armstrong.  Summary of 10 October 2014 APFF Roundtable, Q. 22, 2014-0538161C6 under s. 53(1)(e)(i).