QUOTE (Albertritchot @ Feb 14 2010, 11:29 PM) I do not know what is the original cost of the property or the anticipated selling price will get from the 90 acres.
In the absence of numbers, may I suggest one possible manoeuver?
It involves using reserves.
http://www.cra-arc.gc.ca/E/pub/tg/t4037/README.html
On page 11, the discuss the concept of claiming a reserve.
Basically, instead of taking the selling price for the 90 acres in one year only, you ask the buyer to make payments over a 5 year period.
This concept is useful when the taxable capital gains can be moved to a lower rate of tax (e.g. from the highest federal tax rate of 29% to a somewhat lower rate of 22%)
I will take a look . Thanks