Effect of gift under PGBP

This discussion explores the tax implications when a block of assets receives a gift. It clarifies whether the sale proceeds become nil or if the asset's value is reduced from the block. The consensus is that the asset ceases to be used for business purposes, requiring a reduction in the block's Written Down Value (WDV). This involves calculating the notional WDV of the specific gifted asset and deducting it from the block.