www.carters.ca
www.charitylaw.ca
–Deeming
rules applies
§If the donor acquired the property
through a “gifting arrangement” (donation tax shelter scheme)
§If the donor acquired the property
less than 3 years before making the gift
§If the donor acquired the property
less than 10 years before making the gift, and it was reasonable
to conclude that when the donor acquired the property, one
of the main reasons for the acquisition was to make a
gift
§Also require a “look-back” to see
if the property had been acquired within the last 10 years by a non
arm’s length person and if so then the “deemed fair market value”
applies when that non arm’s length person acquired the property
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