Gift to my Spouse and daughter

1. When you sell your property, you may have to pay Capital Gains Tax OR in the alternative you have to adopt any of the methods mentioned in Section 54.. of the Income Tax Act.

2. Once you take care of the Capital Gains Tax (either by paying it, or avoid it by adopting any of the methods provided in the Act), then you can jolly well gift the amount to your wife and your daughter.

3. Neither in your hands, nor in the hands of your wife or daughter, the amount given by you as GIFT is taxable.

4. There is no specific documents necessary for this purpose.  It is enough if you say you gave the GIFT.  Your wife and daughter should also state that they got the GIFT from you.  Give the gift through CHEQUE.  That is enough.

In stead of gift why don't you try partition deed?      The registration charges are perhaps equal or less.    Then sell the rest away.