The bump under ITA paragraph 88(1)(d) could be denied if a “specified shareholder” receives bumped property unless the shareholder was also a “specified person” as defined in paragraph 88(1)(c.2). Grandchildren who receive bumped property could taint the bump if they are beneficiaries of an estate but their parents are not: the grandchildren might not be “specified persons” in that case.
David Carolin, Marissa Halil and Manu Kakkar “Grandchildren Can Trump the Bump?” Tax for the Owner-Manager 26:2 (April 2026)
