Which of the following statements about the income tax treatment of gifts of non$-$depreciable capital property is NOT correct?

The ACB to the recipient will be the FMV of the property gifted.

If the FMV of the property being gifted exceeds its ACB, there will be a capital gain.

The POD to the person making the gift will be the FMV of the property gifted.

The income tax treatment of gifts is different when the gift is made to a non$-$arm's length person rather than to an arm's length person.