Tax wiki
s. 98.2
PART I — Income Tax · DIVISION B — Computation of Income · SUBDIVISION J — Partnerships and their Members
Transfer of interest on death
Not yet annotated · Text current to 2026-06-21 · section last amended 2004-08-31
Current text
Where by virtue of the death of an individual a taxpayer has acquired a property that was an interest in a partnership to which, immediately before the individual’s death, section 98.1 applied,
the taxpayer shall be deemed to have acquired a right to receive partnership property and not to have acquired an interest in a partnership;
the taxpayer shall be deemed to have acquired the right referred to in paragraph 98.2(a) at a cost equal to the amount determined to be the proceeds of disposition of the interest in the partnership to the deceased individual by virtue of paragraph 70(5)(a) or (6)(d), as the case may be; and
section 43 is not applicable to the right.
Source: Justice Laws Website. Not an official version.
Historic text
This section has not been amended since the start of the point-in-time record on 31 August 2004.
Earlier versions: Justice Laws point-in-time versions of the Act (from 31 August 2004), and CanLII (under “Versions”). On Justice Laws, each version of section 98.2 links to the one before it.
Enacting and amending legislation
- 1974-75-76, c. 26, s. 63
Text before 2004 is found in the annual Statutes of Canada cited above. Application and coming-into-force provisions are not part of the consolidation; see the amending Acts.
Cross-references
Citation
Income Tax Act, R.S.C. 1985, c. 1 (5th Supp.), s. 98.2.