Non-portfolio property

Property held by a SIFT trust at a given time in its taxation year that is:

• a security of a subject entity (other than a portfolio investment entity), if, as applicable:
  • the FMV of all the shares of the entity held by the trust, at that time, exceeds 10% of the equity value of the subject entity, or
  • that FMV, added to the FMV of the other securities held by the trust but issued by entities affiliated with the subject entity, exceeds 50% of the equity value of the trust;
• Canadian immovable or resource property if its FMV exceeds 50% of the equity value of the trust; or
• property that the trust, or a person or partnership with whom the trust does not deal at arm's length, uses in the course of carrying on a business in Canada.

Section 1129.70