I-3 - Taxation Act

Section 272 Disposition versions

2021-06-02

272. Where an individual disposes of property to the individual’s spouse or a trust and the presumption referred to in section 440 or 454 applies,

(a)  the spouse or the trust is deemed to have owned the property since the individual acquired it; and

(b)  the property is deemed to have been the principal residence of the spouse or trust

i.  in the case provided for in section 440, for all the years for which the individual could have designated it, in accordance with the fifth paragraph of section 274, to have been the individual’s principal residence, and;

ii.  in the case provided for in section 454, for all the years for which it was the individual’s principal residence.

In the case of a trust, it is deemed to have been resident in Canada during all the years in which the individual was resident in Canada.

1972, c. 23, s. 252; 1994, c. 22, s. 127; 2001, c. 7, s. 36; 2021, c. 14, s. 37.

2006-03-01

272. Where the individual disposes of the individual’s principal residence to the individual’s spouse or a trust and the presumption referred to in section 440 or 454 applies,

(a)  the spouse or the trust is deemed to have owned the residence since the individual acquired it; and

(b)  the residence is deemed to have been the principal residence of the spouse or trust

i.  in the case provided for in section 440, for all the years with respect to which the individual could have designated it, in accordance with the third paragraph of section 274, to have been the individual’s principal residence, and

ii.  in the case provided for in section 454, for all the years for which the residence was the individual’s principal residence.

In the case of a trust, it is deemed to have been resident in Canada during all the years in which the individual was resident in Canada.

1972, c. 23, s. 252; 1994, c. 22, s. 127; 2001, c. 7, s. 36.