Section 74.2

Subsection 74.2(1) - Gain or loss deemed that of lender or transferor

Cases

GUY GERVAIS V. HER MAJESTY THE QUEEN, 2018 FCA 3

The taxpayer’s wife (Mrs. Gendron) purchased 1.04M preferred shares from the taxpayer (Mr. Gervais) at a cost of $1.04M (with Mr. Gervais...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 245 - Subsection 245(4) basis averaging to attribute only half of a gain back to transferor spouse abused the purpose of s. 74.2(1) 399

Holizkivi v. The Queen, 95 DTC 5591 (FCTD)

Rothstein J. accepted that 1/2 of the assets of a proprietorship (and, following its incorporation, entailing the issuance of 99 shares to the...

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See Also

Zeitler v. Zeitler (Estate), 2010 DTC 5199 [at 7026], 2010 BCCA 216

The taxpayer transferred two properties to her husband. When her husband died intestate (giving rise to a capital gain on the two properties as a...

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St-Pierre c. La Reine, 2008 DTC 3730, 2007 TCC 90

The taxpayer transferred shares of a corporation ("3101") to a management company controlled by him and the management company disposed of a...

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Administrative Policy

7 October 2021 Roundtable, 2021-0908201C6 F - Vente d'un bien détenu en copropriété par indivisi

Two Canadian-resident spouses (A and B) acquired a cottage as co-owners for $400,000. The purchase price was funded with a $100,000 cash payment...

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21 February 2013 External T.I. 2012-0465711E5 F - Attribution Rules after Divorce

Does the attribution rule in s. 74.2(1) ceases to apply after the divorce of the transferor and the transferee of a capital property so that the...

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9 January 2012 External T.I. 2011-0427461E5 F - Attribution Rules and Suspended Loss Rules

Ms. A and her spouse, Mr. B, each held 50% of the common shares of Opco, with Ms. A also holding Opco preferred shares with a paid-up capital...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 40 - Subsection 40(3.6) stop-loss rule in s, 40(3.6) gave ACB addition to common shares of transferee spouse who redeemed preferred shares gifted to him by spouse 235

30 October 2002 Internal T.I. 2002-0134077 F - ATTRIBUTION DES GAINS EN CAPITAL

Two individuals transferred the shares they held of a particular company to their respective holding companies which, in turn, each disposed of a...

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Words and Phrases
transfer indirectly
Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 74.5 - Subsection 74.5(6) presence of indirect transfer through Holdcos for s. 74.5(1) purposes reinforced by s. 74.5(6) 103

19 September 1994 External T.I. 9418825 - ATTRIBUTION RULES

S.74.2(1) (and former s. 74(2)) will not apply to attribute a capital gain on a property to a husband where he transferred the property to his...

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30 October 89 T.I. (March 1990 Access Letter, ¶1159)

Where a condominium was purchased solely out of the funds of the husband but was held in joint tenancy with his wife, any capital gain or loss...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 47 - Subsection 47(1) 24

Paragraph 74.2(1)(a)

Administrative Policy

4 January 2012 External T.I. 2011-0418291E5 F - Transfert entre conjoints

Two spouses who were the equal co-owners of their principal residence and second home effected the transfer of a ½ interest in the principal...

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Subsection 74.2(2) - Deemed gain or loss

Administrative Policy

7 July 1999 External T.I. 9911325 - SECTION 48.1 AND SUBSECTION 74.2(2)48.1

A taxable capital gain arising from an election under s. 48.1 and that is attributed to an individual under s. 74.2(1) will be deemed, for...

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