Quote:
Originally Posted by Locke
I would strongly advise against that. Non-Arms Length transactions have some healthy penalties if they dont satisfy some fairly stringent criteria.
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the penalty is basically both of you get taxed.
The person you sell it to gets their adjusted cost base (the amount they paid for it) increased to the actual amount.
AND
you get your selling price readjusted to the proper amount. Don't Fata with Revenue Canada unless you have deep pockets, they can bury you.