Administrative Policy
24 April 1995 External T.I. 9429505 - MILK QUOTA
A milk quota represents a "right" of the individual farmer to produce and market milk and, therefore, represents "property" and an "eligible capital property" notwithstanding that the applicable regulations provide that the quota belongs to the provincial marketing board and that no person may transfer, assign or sell the quota to another person or receive payment for a quota from a producer.
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Property | 64 |