I-3 - Taxation Act

Section 1029.8.36.72.65 Disposition versions

2021-06-04

1029.8.36.72.65. (Repealed).

2002, c. 9, s. 98; 2004, c. 21, s. 402; 2005, c. 23, s. 196; 2021, c. 18, s. 125.

2006-03-01

1029.8.36.72.65. If, after the beginning of the winding-up of a subsidiary, within the meaning of section 556, to which the rules in sections 556 to 564.1 and 565 apply, the parent corporation, within the meaning of section 556, begins to carry on a recognized business the subsidiary was carrying on before the beginning of its winding-up, the parent corporation and the subsidiary are deemed, for the purpose of determining the amount that a corporation is deemed to have paid to the Minister under this division for its taxation year in which ends the calendar year in which the winding-up began and for a subsequent taxation year, to be the same corporation throughout the period during which the subsidiary carried on, or is deemed to have carried on under this division, the business.

In addition, for the purposes of this division, if the parent corporation carried on after the beginning of the winding-up a recognized business resulting from the consolidation of a recognized business carried on by the parent corporation immediately before the beginning of the winding-up and a recognized business carried on by the subsidiary immediately before the beginning of the winding-up, each recognized business so carried on before the beginning of the winding-up is deemed to be a separate recognized business carried on by the parent corporation after the beginning of the winding-up.

2002, c. 9, s. 98; 2004, c. 21, s. 402; 2005, c. 23, s. 196.