CRA explains how to count 30 days for purposes of applying the superficial loss rule to a purchase by a spousal RRSP

Mr. A sold 1,000 shares of a listed company in a non-registered account on September 1, 2021 at a capital loss of $20,000. The RRSP of his spouse, Ms. B (who dealt with a different brokerage firm) acquired 1,200 shares of the same company on September 7, 2021 Ms. B’s RRSP sells the shares no later than September 28, 2021 (with settlement occurring two days later).

CRA noted that such sale would avoid the application of the superficial loss rule as the affiliated person (her RRSP) would not own the identical shares at the end of the 30-day period described in the superficial loss definition.

However, if her RRSP reacquired the shares on October 1, 2021, the superficial loss rule would apply: in light of 27(5) of the Interpretation Act, the 30-day period would not start running until October 1, 2021, so that October 1, 2021 would be the 30^th day of the 30-day period.

Neal Armstrong. Summary of 2021 APFF Financial Strategies and Instruments Roundtable, Q.3 under s. 54 – superficial loss.