Income Tax Act — I-3.3 54
 the total area of the subjacent land and of that portion exceeds 1/2 hectare, the excess shall be deemed not to have contributed to the use and enjoyment of the housing unit as a residence unless the taxpayer establishes that it was necessary to such use and enjoyment, (f) a particular property designated under paragraph (c.1) by a trust for a year shall be deemed to be property designated for the purposes of this definition by each specified beneficiary of the trust for the calendar year ending in the year, and (g) a qualifying individual, for a taxation year in respect of a trust, means an individual who meets the following conditions: (i) the individual is, in the year, any of (A) the settlor of the trust, (B) the child, grandchild, great grandchild, parent, grandparent, great grandparent, brother, sister, uncle, aunt, niece or nephew of the settlor or of the spouse or common-law partner or former spouse or common-law partner of the settlor, and (C) the spouse or common-law partner or former spouse or common-law partner of any person described in clause (A) or (B), (ii) the individual is resident in Canada during the year, and (iii) an amount is deductible, or would be deductible if this Act were read without reference to paragraph 118.3(1)(c), under subsection 118.3(1) in computing the individual’s tax payable under this Part for the year; ( résidence principale ) proceeds of disposition of property includes, (a) the sale price of property that has been sold, (b) compensation for property unlawfully taken, (c) compensation for property destroyed, and any amount payable under a policy of insurance in respect of loss or destruction of property, (d) compensation for property taken under statutory authority or the sale price of property sold to a person by whom notice of an intention to take it under statutory authority was given, (e) compensation for property injuriously affected, whether lawfully or unlawfully or under statutory authority or otherwise, (f) compensation for property damaged and any amount payable under a policy of insurance in respect of damage to property, except to the extent that such compensation or amount, as the case may be, has within a reasonable time after the damage been expended on repairing the damage, (g) an amount by which the liability of a taxpayer to a mortgagee or hypothecary creditor is reduced as a result of the sale of mortgaged or hypothecated property under a provision of the mortgage or hypothec, plus any amount received by the taxpayer out of the proceeds of the sale, (h) any amount included in computing a taxpayer’s proceeds of disposition of the property because of section 79, and (i) in the case of a share, an amount deemed by subparagraph 88(2)(b)(ii) not to be a dividend on that share, but notwithstanding any other provision of this Part, does not include (j) any amount that would otherwise be proceeds of disposition of a share to the extent that the amount is deemed by subsection 84(2) or (3) to be a dividend received except to the extent the dividend is deemed (i) by paragraph 55(2)(b) to be proceeds of disposition of the share, or (ii) by subparagraph 88(2)(b)(ii) not to be a dividend, or (k) any amount that would otherwise be proceeds of disposition of property of a taxpayer to the extent that the amount is deemed by subsection 84.1(1), 212.1(1.1) or 212.2(2) to be a dividend paid to the taxpayer or, if the taxpayer is a partnership, to a member of the taxpayer; ( produit de disposition ) specified property of a taxpayer is capital property of the taxpayer that is (a) a share, (b) a capital interest in a trust, (c) an interest in a partnership, or (d) an option to acquire specified property of the taxpayer; ( bien déterminé ) superficial loss of a taxpayer means the taxpayer’s loss from the disposition of a particular property where (a) during the period that begins 30 days before and ends 30 days after the disposition, the taxpayer or a person affiliated with the taxpayer a