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I-3 - Taxation Act

Section 175.2.7
Disposition versions

Full text
175.2.7. Where at any time a taxpayer uses borrowed money to repay money previously borrowed that was deemed by paragraph c of section 175.2.3 immediately before that time to be used for the purpose of earning income from a business, the following rules apply:
(a)  paragraphs a to c of section 175.2.3 apply with respect to the borrowed money; and
(b)  section 183 does not apply with respect to the borrowed money.
1995, c. 49, s. 51.
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