CRA indicates that the s. 13(38)(d)(iii) transitional election is irrelevant to ECP dispositions by a calendar-year partnership

A partnership with a calendar year end, but whose corporate partners have March 31 taxation year ends, disposed of eligible capital property in November 2016. CRA indicated that because income is computed at the partnership rather than partner level, there is no need for (or ability of) the partners to make the s. 13(38)(d)(iii) transitional election, i.e., the relevant taxpayer had a calendar year.

Neal Armstrong. Summary of 6 October 2017 APFF Roundtable, Q.11 under s. 13(38)(d)(iii).