,canada ,cu/oms                       #a
& ,rev5ue ,ag5cy

          ,9t]pret,n ,bullet9
    
,subject3 ,9come ,tax ,act
  ,"p ,4posi;ns
,numb]3 ,,it-#bfd;,r
,date3 ,decemb] #bi1 #aihj
,ref];e3 ,sec;n #dc

  ,? bullet9 c.els & replaces ,9t]pret,n
,bullet9 ,,it-#bfd dat$ ,novemb] #aj1
#aige4 ,curr5t revi.ns >e designat$
0v]tical l9es4

#a4 ,sec;n #dc provides t =! purposes (
  -put+ ! ga9 or loss ": "p (a prop]ty
  is 4pos$ (1 ! adju/$ co/ base 7,,acb7
  (! prop]ty [n$ immly prior 6! 4posi;n
  m/ 2 r1sonably appor;n$ 2t ! "p 4pos$
  (&! "p reta9$4
#b4 ,! grant+ ( an ease;t or a public "r
  ( way is a 4posi;n (a "p (! prop]ty 9
  respect ( : x is grant$4            #a
              ,,it-#bfd;,r           a#a
  ,pursuant 6sec;n #dc1 ! ,de"p;t norm,y
  a3epts an am.t equal 6! proce$s f s*
  4posi;n z 2+ ! r1sona# por;n (! adju/$
  co/ base (! :ole prop]ty attributa# 6!
  "p 4pos$ (4 ,! ,de"p;t w al all[ ?
  me?od ( det]m9+ ! adju/$ co/ base ": !
  por;n ( prop]ty expropriat$ 9 fee
  simple = use z a "r ( way is
  9significant4 ,= example1 ! ,de"p;t
  3sid]s t a por;n t is #bj@3p or less
  (! size (! prop]ty is 9significant 9
  s* circum/.es4
#c4 ,simil>ly1 ": -p5s,n 7i4e4 proce$s (
  4posi;n7 is rcvd 9 respect ( damage
  6an 9sub/antial "p (! total prop]ty &!
  damage is n repair$1 ! ,de"p;t a3epts
  an alloc,n 6! damag$ prop]ty 7i4e4 "p
  4posi;n7 ( any por;n (! ,,acb t does n
  exce$ an am.t equal 6s* -p5s,n4 ,?
  approa* 6det]m9+ h[ m* (! total ,,acb
  is attributa# 6a "p 4posi;n does n
  ext5d 6a situ,n ": ! -p5s,n rcvd =!
  damag$ prop]ty is excessive 9 rel,n 6!
  total prop]ty4 ,( c\rse1 ": !       #b
              ,,it-#bfd;,r           b#a
  taxpay] c e/abli% t ! por;n (! ,,acb
  r1sonably attributa# 6! damag$ prop]ty
  is grt] ?an ! -p5s,n1 t por;n is
  a3ept$4
#d4 ,pursuant 6clause #ed7c77;ii77,a71
  an 9/all;t pay;t made on a mortgage is
  a 4posi;n ( prop]ty 2c x is a
  transac;n or ev5t 0: ! prop]ty 7i4e4 !
  mortgage pr9cipal7 is redeem$ 9 "p4
  ,=! purpose ( -put+ ! capital ga9 ":
  an 9/al;t pay;t is rcvd on a 4c.t$
  mortgage1 ! proce$s ( 4posi;n >e !
  por;n (! 9/all;t pay;t rcvd on a3.t (!
  mortgage pr9cipal1 &! ,,acb (! prop]ty
  4pos$ ( is1 0virtue ( sec;n #dc1 an
  am.t equal 6!
--------------------------------------#b
  proce$s ( 4posi;n less a por;n (! 4c.t
  z det]m9$ on ! basis (a pro rata %>e (
  all am.ts receiva# z pay;ts on a3.t (!
  total pr9cipal 9debt$;s (! borr[]4 ,9
  e6ect1 a capital ga9 is r1liz$ 9
  respect (! 4c.t ea* "t an 9/al;t pay;t
  is rcvd4                            #c
              ,,it-#bfd;,r           a#b
#e4 ,h["e1 = adm9i/rative purposes1 ": !
  am.t (! mortgage 4c.t is relatively
  m9or1 ! taxpay] may tr1t x z only 2+
  r1liz$ 9 pay;ts rcvd 0hm af he has
  fully recov]$ 8 acquisi;n co/ (!
  mortgage4

















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