Versions of s. 40(7)

Historical text comes from the Justice Laws point-in-time corpus and is unofficial — not the official version.

2017-12-14 to present available View Source

Where property has been acquired by a taxpayer in satisfaction of all or any part of the taxpayer’s capital interest in a trust, in circumstances to which subsection 107(2) applies and subsection 107(4) does not apply, for the purposes of paragraph 40(2)(b) and the definition principal residence in section 54 the taxpayer shall be deemed to have owned the property continuously since the trust last acquired it.

Full text

Where property has been acquired by a taxpayer in satisfaction of all or any part of the taxpayer’s capital interest in a trust, in circumstances to which subsection 107(2) applies and subsection 107(4) does not apply, for the purposes of paragraph 40(2)(b) and the definition principal residence in section 54 the taxpayer shall be deemed to have owned the property continuously since the trust last acquired it.
2004-08-31 to 2017-12-14 View Source

Where property has been acquired by a taxpayer in satisfaction of all or any part of the taxpayer’s capital interest in a trust, in circumstances to which subsection 107(2) applies and subsection 107(4) does not apply, for the purposes of paragraph 40(2)(b) and the definition principal residence in section 54 the taxpayer shall be deemed to have owned the property continuously since the trust last acquired it.