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I-3 - Taxation Act

Section 1141.2.3
Disposition versions

Full text
1141.2.3. A savings and credit union shall also include, in computing its paid-up capital for a taxation year, an amount equal to 50% of the total of all amounts each of which is the value at the end of the year of an asset of the savings and credit union, other than property held by the savings and credit union primarily for the purpose of resale that was acquired by it in the year or in the preceding taxation year as a consequence of another person’s default, or anticipated default, in respect of a debt owed to the savings and credit union, that is corporeal property.
1997, c. 14, s. 280; 2004, c. 21, s. 496; 2005, c. 1, s. 286.
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