This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.
End of attention
In determining FIF income, if you acquire or dispose of interests in a FIF or a FLP
for no consideration, or you are not dealing at arm's length and you acquire or dispose of FIF or FLP interests for inadequate or excessive consideration, you must value the interests at market value. The valuation is to occur at the time of acquisition or disposal of the interests. [section 490]
Last modified: 01 Jul 2006QC 18507