Words and Phrases - "desire"
Jones v. The Queen, 96 DTC 6016 (FCA)
The sale of a property by a corporation ("Ascot") owned by the taxpayer to the taxpayer's father for less than the property's fair market value did not result in the application of s. 56(2) to the taxpayer given that he genuinely believed that the property was sold at fair market value. The word "desire" in s. 56(2) established a subjective test of what it was that the taxpayer wanted to achieve.
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