Income Tax Act — I-3.3 94
r partnership, and (ii) the property, if any, transferred to the particular person or partnership from the other person or partnership in exchange for the service is deemed to have been transferred to the particular person or partnership in exchange for the property deemed by subparagraph (i) to have been transferred; (g) each of the following acquisitions of property by a particular person or partnership is deemed to be a transfer of the property, at the time of the acquisition of the property, to the particular person or partnership from the person or partnership from which the property was acquired, namely, the acquisition by the particular person or partnership of (i) a share of a corporation from the corporation, (ii) an interest as a beneficiary under a trust (otherwise than from a beneficiary under the trust), (iii) an interest in a partnership (otherwise than from a member of the partnership), (iv) a debt owing by a person or partnership from the person or partnership, and (v) a right (granted after June 22, 2000, by the person or partnership from which the right was acquired) to acquire or to be loaned property; (h) the fair market value at any time of a property deemed by subparagraph (f)(i) to have been transferred at that time is deemed to be the fair market value at that time of the service to which the property relates; (i) a person or partnership that at any time becomes obligated to do an act that would, if done, constitute the transfer or loan of a property to another person or partnership is deemed to have become obligated at that time to transfer or loan, as the case may be, property to that other person or partnership; (j) in applying at any time the definition non-resident time in subsection (1), if a trust acquires property of an individual as a consequence of the death of the individual and the individual was immediately before death resident in Canada, the individual is deemed to have transferred the property to the trust immediately before the individual’s death; (k) a transfer or loan of property at any time is deemed to be made at that time jointly by a particular person or partnership and a second person or partnership (referred to in this paragraph as the “specified person”) if (i) the particular person or partnership transfers or loans property at that time to another person or partnership, (ii) the transfer or loan is made at the direction, or with the acquiescence, of the specified person, and (iii) it is reasonable to conclude that one of the reasons the transfer or loan is made is to avoid or minimize the liability, of any person or partnership, under this Part that arose, or that would otherwise have arisen, because of the application of this section; (k.1) a transfer or loan of property made at any time on or after November 9, 2006, is deemed to be made at that time jointly by a particular person or partnership and a second person or partnership (referred to in this paragraph as the “specified person”) if (i) the particular person or partnership transfers or loans property at that time to another person or partnership, and (ii) a purpose or effect of the transfer or loan may reasonably be considered to be to provide benefits in respect of services rendered by a person as an employee of the specified person (whether the provision of the benefits is because of a right that is immediate or future, absolute or contingent, or conditional on or subject to the exercise of any discretion by any person or partnership); (l) a transfer or loan of property at any time is deemed to be made at that time jointly by a corporation and a person or partnership (referred to in this paragraph as the “specified person”) if (i) the corporation transfers or loans property at that time to another person or partnership, (ii) the transfer or loan is made at the direction, or with the acquiescence, of the specified person, (iii) that time is not, or would not be if the transfer or loan were a contribution of the specif