I-3 - Taxation Act

Full text
7.20. The existence of an amount of an advantage in respect of a transfer of property does not disqualify the transfer from being a gift to a qualified donee, provided that
(a)  the amount of the advantage does not exceed 80% of the fair market value of the transferred property; or
(b)  the transferor of the property establishes to the satisfaction of the Minister that the transfer was made with the intention to make a gift.
2009, c. 5, s. 23.