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Let's say I have an asset with an ACB of $5,000 and the FMV is $7,500.Under ITA 69(1) what happens if I sell the asset

Let's say I have an asset with an ACB of $5,000 and the FMV is $7,500.Under ITA 69(1) what happens if I sell the asset to my dad at $10,000? What are the tax implications to both me and my dad?

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