I-3 - Taxation Act

Section 231.2 Disposition versions

2017-12-07

231.2. The taxable capital gain of a taxpayer for a taxation year from the disposition of a property is equal to zero if the disposition is

(a)  a gift made to a qualified donee of a property that is

i.  a share, debt obligation or right listed on a designated stock exchange,

ii.  a share of the capital stock of a mutual fund corporation,

iii.  a unit of a mutual fund trust,

iv.  an interest in a trust created in respect of a segregated fund within the meaning of section 851.2, or

v.  a bond, debenture, note, hypothecary claim, mortgage or similar obligation, either issued or guaranteed by the Government of Canada, or issued by the government of a province or its mandatary;

(b)  a gift made to a qualified donee, other than a private foundation, of a property that is a property described, in respect of the taxpayer, in section 710.0.1 or in the definition of “qualified property” in the first paragraph of section 752.0.10.1;

(c)  a deemed disposition by reason of the application of Division III of Chapter III of Title VII and the property is

i.  a property referred to in paragraph a or b, and

ii.  the subject of a gift to which section 752.0.10.10.0.1 applies and that is made by the taxpayer’s succession to a qualified donee that, in the case of a property referred to in paragraph b, is not a private foundation; or

(d)  the exchange, for a property described in paragraph a, of a share of the capital stock of a corporation, which share included, at the time it was issued and at the time of the disposition, a condition allowing the holder to exchange it for the property, and the taxpayer

i.  receives no consideration on the exchange other than the property, and

ii.  makes a gift of the property to a qualified donee not more than 30 days after the exchange.

2003, c. 2, s. 69; 2004, c. 8, s. 42; 2005, c. 1, s. 74; 2006, c. 36, s. 29; 2009, c. 15, s. 63; 2010, c. 5, s. 24; 2010, c. 25, s. 21; 2017, c. 29, s. 52.

2010-10-27

231.2. The taxable capital gain of a taxpayer for a taxation year from the disposition of a property is equal to zero if the disposition is

(a)  a gift made to a qualified donee of a property that is

i.  a share, debt obligation or right listed on a designated stock exchange,

ii.  a share of the capital stock of a mutual fund corporation,

iii.  a unit of a mutual fund trust,

iv.  an interest in a trust created in respect of a segregated fund within the meaning of section 851.2, or

v.  a bond, debenture, note, hypothecary claim, mortgage or similar obligation, either issued or guaranteed by the Government of Canada, or issued by the government of a province or its mandatary;

(b)  a gift made to a qualified donee, other than a private foundation, of a property that is a property described, in respect of the taxpayer, in section 710.0.1 or in the definition of “qualified property” in the first paragraph of section 752.0.10.1;

(c)  a deemed disposition by reason of the application of Division III of Chapter III of Title VII, the property is that of a deceased individual and the individual is deemed, pursuant to section 752.0.10.10, to have made a gift referred to in paragraph a or b in respect of the property; or

(d)  the exchange, for a property described in paragraph a, of a share of the capital stock of a corporation, which share included, at the time it was issued and at the time of the disposition, a condition allowing the holder to exchange it for the property, and the taxpayer

i.  receives no consideration on the exchange other than the property, and

ii.  makes a gift of the property to a qualified donee not more than 30 days after the exchange.

2003, c. 2, s. 69; 2004, c. 8, s. 42; 2005, c. 1, s. 74; 2006, c. 36, s. 29; 2009, c. 15, s. 63; 2010, c. 5, s. 24; 2010, c. 25, s. 21.

2010-04-20

231.2. The taxable capital gain of a taxpayer for a taxation year from the disposition of a property is equal to zero if the disposition is

(a)  a gift made to a qualified donee of a property that is

i.  a share, debt obligation or right listed on a designated stock exchange,

ii.  a share of the capital stock of a mutual fund corporation,

iii.  a unit of a mutual fund trust,

iv.  an interest in a trust created in respect of a segregated fund within the meaning of section 851.2, or

v.  a bond, debenture, note, hypothecary claim, mortgage or similar obligation, either issued or guaranteed by the Government of Canada, or issued by the government of a province or its mandatary;

(b)  a gift made to a qualified donee, other than a private foundation, of a property that is a property described, in respect of the taxpayer, in section 710.0.1 or in the definition of “qualified property” in the first paragraph of section 752.0.10.1;

(c)  a deemed disposition by reason of the application of Division III of Chapter III of Title VII of Book III, the property is that of a deceased individual and the individual is deemed, pursuant to section 752.0.10.10, to have made a gift referred to in paragraph a or b in respect of the property; or

(d)  the exchange, for a property described in paragraph a, of a share of the capital stock of a corporation, which share included, at the time it was issued and at the time of the disposition, a condition allowing the holder to exchange it for the property, and the taxpayer

i.  receives no consideration on the exchange other than the property, and

ii.  makes a gift of the property to a qualified donee not more than 30 days after the exchange.

2003, c. 2, s. 69; 2004, c. 8, s. 42; 2005, c. 1, s. 74; 2006, c. 36, s. 29; 2009, c. 15, s. 63; 2010, c. 5, s. 24.

2009-06-04

231.2. The taxable capital gain of a taxpayer for a taxation year from the disposition of a property is equal to zero if the disposition is

(a)  a gift made to a qualified donee of a property that is

i.  a share, debt obligation or right listed on a Canadian stock exchange or a foreign stock exchange,

ii.  a share of the capital stock of a mutual fund corporation,

iii.  a unit of a mutual fund trust,

iv.  an interest in a trust created in respect of a segregated fund within the meaning of section 851.2, or

v.  a bond, debenture, note, hypothecary claim, mortgage or similar obligation, either issued or guaranteed by the Government of Canada, or issued by the government of a province or its mandatary;

(b)  a gift made to a qualified donee, other than a private foundation, of a property that is a property described, in respect of the taxpayer, in section 710.0.1 or in the definition of “qualified property” in the first paragraph of section 752.0.10.1;

(c)  a deemed disposition by reason of the application of Division III of Chapter III of Title VII of Book III, the property is that of a deceased individual and the individual is deemed, pursuant to section 752.0.10.10, to have made a gift referred to in paragraph a or b in respect of the property; or

(d)  the exchange, for a property described in paragraph a, of a share of the capital stock of a corporation, which share included, at the time it was issued and at the time of the disposition, a condition allowing the holder to exchange it for the property, and the taxpayer

i.  receives no consideration on the exchange other than the property, and

ii.  makes a gift of the property to a qualified donee not more than 30 days after the exchange.

2003, c. 2, s. 69; 2004, c. 8, s. 42; 2005, c. 1, s. 74; 2006, c. 36, s. 29; 2009, c. 15, s. 63.

2006-12-06

231.2. The taxable capital gain of a taxpayer for a taxation year from the disposition of a property is equal to zero if the disposition is

(a)  a gift made to a qualified donee, other than a private foundation, of a property that is

i.  a property described, in respect of the taxpayer, in section 710.0.1 or in the definition of “qualified property” in the first paragraph of section 752.0.10.1,

ii.  a share, debt obligation or right listed on a Canadian stock exchange or a foreign stock exchange,

iii.  a share of the capital stock of a mutual fund corporation,

iv.  a unit of a mutual fund trust,

v.  an interest in a trust created in respect of a segregated fund within the meaning of section 851.2, or

vi.  a bond, debenture, note, hypothecary claim, mortgage or similar obligation, either issued or guaranteed by the Government of Canada, or issued by the government of a province or its mandatary; or

(b)  a deemed disposition by reason of the application of Division III of Chapter III of Title VII of Book III, the property is that of a deceased individual and the individual is deemed, pursuant to section 752.0.10.10, to have made a gift referred to in paragraph a in respect of the property.

2003, c. 2, s. 69; 2004, c. 8, s. 42; 2005, c. 1, s. 74; 2006, c. 36, s. 29.

2006-03-01

231.2. The taxable capital gain of a taxpayer for a taxation year from the disposition of a property is equal to 1/4 of the capital gain from the disposition of the property where the disposition is

(a)  a gift made to a qualified donee, other than a private foundation, of a property that is

i.  a property described, in respect of the taxpayer, in section 710.0.1 or in the definition of "qualified property" in the first paragraph of section 752.0.10.1,

ii.  a share, debt obligation or right listed on a Canadian stock exchange or a foreign stock exchange,

iii.  a share of the capital stock of a mutual fund corporation,

iv.  a unit of a mutual fund trust,

v.  an interest in a trust created in respect of a segregated fund within the meaning of section 851.2, or

vi.  a bond, debenture, note, hypothecary claim, mortgage or similar obligation, either issued or guaranteed by the Government of Canada, or issued by the government of a province or its mandatary; or

(b)  a deemed disposition by reason of the application of Division III of Chapter III of Title VII of Book III, the property is that of a deceased individual and the individual is deemed, pursuant to section 752.0.10.10, to have made a gift referred to in paragraph a in respect of the property.

2003, c. 2, s. 69; 2004, c. 8, s. 42; 2005, c. 1, s. 74.