I-3 - Taxation Act

Section 1106.0.4 Disposition versions

2017-12-07

1106.0.4. (Repealed).

2003, c. 2, s. 289; 2017, c. 29, s. 207.

2006-03-01

1106.0.4. For the purposes of sections 1106.0.2 and 1106.0.3, where the total amount of dividends, to which section 1106 applies, paid by an investment corporation in the period that begins 60 days after the beginning of a taxation year of the corporation that includes 28 February 2000 or 17 October 2000 and ends 60 days after the end of that year exceeds the total amount of the corporation’s net capital gains from dispositions of property in that year, the following rules apply:

(a)  the amount of those dividends to which sections 1106.0.2 and 1106.0.3 apply is the amount of the corporation’s net capital gains from dispositions of property in that year; and

(b)  the amount by which the total amount of dividends paid by the corporation in the period exceeds the total amount of the corporation’s net capital gains from dispositions of property in that year is deemed to be a dividend in respect of capital gains from dispositions of property in the first of the periods described in section 1106.0.2 that ended in the year.

2003, c. 2, s. 289.