Principal Issues: 1. Can a donor include in "total cultural gifts" for the year, as defined in subsection 118.1(1), an amount in respect of a gift of cultural property where the property is not certified by the Canadian Cultural Property Export Review Board until after the gift is completed? 2. Similarly, where certification occurs after the gift is completed, will subparagraph 39(1)(a)(i.1) apply in computing the donor's capital gain?
Position: 1. Yes, provided that the requirements of that definition are otherwise satisfied. 2. Yes.
Reasons: Words of the Act and the Cultural Property Export and Import Act.