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Farm land was gifted to a son in December 2014 subject to the right to support and maintain the parents and subject to the power of the father to revoke the transfer at any time. Is there any relief to reduce the value of the gift because of the burdens to support and maintain the parents? Is the full gift subject to CAT? If the land transfer is revoked at a later date after CAT has been paid, can the CAT paid be reclaimed? Thanks

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Asked on 14 April 2016 2:56 pm