Non-Eligible Dividend ( Property Dividend)

Hello Allan,

Hope you are doing well. My question is:

If I pay myself non-eligible dividend in a form of land, let say the property FMV is 10k (company bought it for 7k)it is just a less half acre of land, is it taxable on my personal income on the date I declared it or on the date I record it or on the date I transferred the property to my name? What if I changed my mind, and I want to reinvest the property back to the company before I transferred the property to my personal ownership and already declared it as non-eligible dividend and filed T5. Thank you very much.