I-3 - Taxation Act

Section 127.18 Disposition versions

2021-12-10

127.18. No amount is to be included under section 127.17 in computing the income of a Canadian corporation in respect of a pertinent loan or indebtedness, within the meaning of subparagraph ii of subparagraph a of the second paragraph of section 127.16, for the 180-day period that begins at any time a parent or group of parents referred to in section 212.3 of the Income Tax Act (R.S.C. 1985, c. 1 (5th Suppl.)) acquires control of the Canadian corporation, if the Canadian corporation was not controlled by a person not resident in Canada, or a group of persons not resident in Canada and not dealing with each other at arm’s length, immediately before that time.

2017, c. 29, s. 37; 2021, c. 36, s. 57.

2017-12-07

127.18. No amount is to be included under section 127.17 in computing the income of a Canadian corporation in respect of a pertinent loan or indebtedness, within the meaning of subparagraph ii of subparagraph a of the second paragraph of section 127.16, for the 180-day period that begins at any time a parent referred to in section 212.3 of the Income Tax Act (R.S.C. 1985, c. 1 (5th Suppl.)) acquires control of the Canadian corporation, if the Canadian corporation was not controlled by a corporation not resident in Canada immediately before that time.

2017, c. 29, s. 37.