6 September 89 T.I. (February 1990 Access Letter, ¶1117)

Where a farmer transfers his farm to his adult children pursuant to ss.73(3)(a) and (b) and immediately thereafter the children sell the farm property in an arm's length transaction, the capital gains exemption will be available to the children provided they have no history of real estate trading.

Where a farmer transfers his farm on a rollover basis to his adult children who immediately thereafter sell the farm property in an arm's length transaction, the capital gains exemption will be available to them provided they have no history of real estate trading.