In Vasilkioti v R, 2024 TCC 101, the Court held that section 160 did not apply in respect of a transfer of real property from a husband to the appellant-wife because the CRA did not adequately prove the husband’s underlying debt (it had peculiar knowledge of the facts of that debt while the wife did not) and because the wife had provided consideration for the transfer in the form of financial support to the husband’s businesses. This was so even though the land transfer tax affidavit for the transfer of the real property showed consideration of only $2.00.
