Lar - I have not read the income tax either and I adon't intend to. In any case, there is a little known section of the income tax act that is called GAAR - General Anti-Avoidance Rules. I am not able to quote chapter and verse, but the theme of the legislation is that anyone who uses the rules as written to bring about an unintended result that unfairly alows the taxpayer to receive tax free income is subject to having the gains taxed. So, once again, I suggest that you get professsional accounting advise before trying to scam CCRA - they can be real nasty if they want.

Shortty