Précis: Mrs. Bueti’s father died in 1999. In 2000 she and her husband acquired his home from his estate. In 2004 they gave the property to their son and daughter-in-law. CRA reassessed the gift transaction lowering the adjusted cost base (ACB) and increasing the deemed proceeds of disposition.
Bueti v. R. - TCC: Tax Court takes midpoint of two opposing valuationsREAD MORE »