I-3 - Taxation Act

Section 1.2 Disposition versions

2009-06-04

1.2. For the purposes of this Part, other than paragraph a of section 618, the following rules apply:

(a)  if property is acquired in substitution for a particular property that is disposed of or exchanged and if subsequently, by one or more transactions, other property is acquired in substitution for that property or for property already acquired in substitution, any property so acquired is deemed to have been substituted for the particular property; and

(b)  any share received as a stock dividend on another share of the capital stock of a corporation is deemed to be property substituted for that other share.

1982, c. 5, s. 2; 1987, c. 67, s. 5; 1993, c. 19, s. 13; 1996, c. 39, s. 10; 1997, c. 3, s. 71; 1998, c. 16, s. 5; 2009, c. 15, s. 26.

2006-03-01

1.2. For the purposes of this Part, other than paragraph a of section 618 and Title VI.5.1 of Book IV, the following rules apply:

(a)  where a person has disposed of or exchanged a particular property and acquired other property in substitution therefor and subsequently, by one or more further transactions, has acquired other property in substitution for that property or for property already acquired in substitution, the property acquired by any such transaction is deemed to have been substituted for the particular property; and

(b)  any share received as a stock dividend on another share of the capital stock of a corporation is deemed to be property substituted for that other share.

1982, c. 5, s. 2; 1987, c. 67, s. 5; 1993, c. 19, s. 13; 1996, c. 39, s. 10; 1997, c. 3, s. 71; 1998, c. 16, s. 5.