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I-3 - Taxation Act

Section 238
Disposition versions

Full text
238. Section 237 does not apply where the disposition is
(a)  a disposition deemed to have occurred under section 242, as it read before 1 January 1993, any of sections 281, 283, 299 to 300, 436, 440, 444, 450, 450.6 and 653, Chapter I of Title I.1 of Book VI, paragraph a or c of section 785.5 or any of sections 832.1, 851.22.0.4, 851.22.15, 851.22.23 to 851.22.31, 861, 862 and 999.1;
(b)  the expiry of an option;
(c)  a disposition referred to in section 264.0.1;
(d)  a disposition by a taxpayer that was subject to a loss restriction event within 30 days after the time of disposition;
(e)  a disposition by a person that, within 30 days after the time of disposition, became or ceased to be exempt from tax under this Part on its taxable income;
(f)  a disposition to which section 238.1 or the second paragraph of section 424 applies; or
(g)  a disposition referred to in section 979.39 or 979.40.
1972, c. 23, s. 224; 1975, c. 22, s. 39; 1984, c. 15, s. 56; 1985, c. 25, s. 40; 1987, c. 67, s. 58; 1995, c. 49, s. 58; 1996, c. 39, s. 64; 2000, c. 5, s. 63; 2004, c. 8, s. 45; 2009, c. 5, s. 80; 2010, c. 25, s. 24; 2015, c. 21, s. 146; 2015, c. 36, s. 14; 2017, c. 1, s. 106; 2020, c. 16, s. 50.
238. Section 237 does not apply where the disposition is
(a)  a disposition deemed to have occurred under section 242, as it read before 1 January 1993, any of sections 281, 283, 299 to 300, 436, 440, 444, 450, 450.6 and 653, Chapter I of Title I.1 of Book VI, paragraph a or c of section 785.5 or any of sections 832.1, 851.22.15, 851.22.23 to 851.22.31, 861, 862 and 999.1;
(b)  the expiry of an option;
(c)  a disposition referred to in section 264.0.1;
(d)  a disposition by a taxpayer that was subject to a loss restriction event within 30 days after the time of disposition;
(e)  a disposition by a person that, within 30 days after the time of disposition, became or ceased to be exempt from tax under this Part on its taxable income;
(f)  a disposition to which section 238.1 or the second paragraph of section 424 applies; or
(g)  a disposition referred to in section 979.39 or 979.40.
1972, c. 23, s. 224; 1975, c. 22, s. 39; 1984, c. 15, s. 56; 1985, c. 25, s. 40; 1987, c. 67, s. 58; 1995, c. 49, s. 58; 1996, c. 39, s. 64; 2000, c. 5, s. 63; 2004, c. 8, s. 45; 2009, c. 5, s. 80; 2010, c. 25, s. 24; 2015, c. 21, s. 146; 2015, c. 36, s. 14; 2017, c. 1, s. 106.
238. Section 237 does not apply where the disposition is
(a)  a disposition deemed to have occurred under section 242, as it read before 1 January 1993, any of sections 281, 283, 299 to 300, 436, 440, 444, 450, 450.6 and 653, Chapter I of Title I.1 of Book VI, paragraph a or c of section 785.5 or any of sections 832.1, 851.22.15, 851.22.23 to 851.22.31, 861, 862 and 999.1;
(b)  the expiry of an option;
(c)  a disposition referred to in section 264.0.1;
(d)  a disposition by a corporation the control of which was acquired by a person or group of persons within 30 days after the time of disposition;
(e)  a disposition by a person that, within 30 days after the time of disposition, became or ceased to be exempt from tax under this Part on its taxable income;
(f)  a disposition to which section 238.1 or the second paragraph of section 424 applies; or
(g)  a disposition referred to in section 979.39 or 979.40.
1972, c. 23, s. 224; 1975, c. 22, s. 39; 1984, c. 15, s. 56; 1985, c. 25, s. 40; 1987, c. 67, s. 58; 1995, c. 49, s. 58; 1996, c. 39, s. 64; 2000, c. 5, s. 63; 2004, c. 8, s. 45; 2009, c. 5, s. 80; 2010, c. 25, s. 24; 2015, c. 21, s. 146; 2015, c. 36, s. 14.
238. Section 237 does not apply where the disposition is
(a)  a disposition deemed under section 242 as it read before 1 January 1993, any of sections 281, 283, 299 to 300, 436, 440, 444, 450, 450.6 and 653, Chapter I of Title I.1 of Book VI, paragraph f of section 785.5 or any of sections 832.1, 851.22.15, 851.22.23 to 851.22.31, 861, 862 and 999.1 to have been made;
(b)  the expiry of an option;
(c)  a disposition referred to in section 264.0.1;
(d)  a disposition by a corporation the control of which was acquired by a person or group of persons within 30 days after the time of disposition;
(e)  a disposition by a person that, within 30 days after the time of disposition, became or ceased to be exempt from tax under this Part on its taxable income;
(f)  a disposition to which section 238.1 or the second paragraph of section 424 applies; or
(g)  a disposition referred to in section 979.39 or 979.40.
1972, c. 23, s. 224; 1975, c. 22, s. 39; 1984, c. 15, s. 56; 1985, c. 25, s. 40; 1987, c. 67, s. 58; 1995, c. 49, s. 58; 1996, c. 39, s. 64; 2000, c. 5, s. 63; 2004, c. 8, s. 45; 2009, c. 5, s. 80; 2010, c. 25, s. 24; 2015, c. 21, s. 146.
238. Section 237 does not apply where the disposition is
(a)  a disposition deemed under section 242 as it read before 1 January 1993, any of sections 281, 283, 299 to 300, 436, 440, 444, 450, 450.6 and 653, Chapter I of Title I.1 of Book VI, paragraph f of section 785.5 or any of sections 832.1, 851.22.15, 851.22.23 to 851.22.31, 861, 862 and 999.1 to have been made;
(b)  the expiry of an option;
(c)  a disposition referred to in section 264.0.1;
(d)  a disposition by a corporation the control of which was acquired by a person or group of persons within 30 days after the time of disposition;
(e)  a disposition by a person that, within 30 days after the time of disposition, became or ceased to be exempt from tax under this Part on its taxable income; or
(f)  a disposition to which section 238.1 or the second paragraph of section 424 applies.
1972, c. 23, s. 224; 1975, c. 22, s. 39; 1984, c. 15, s. 56; 1985, c. 25, s. 40; 1987, c. 67, s. 58; 1995, c. 49, s. 58; 1996, c. 39, s. 64; 2000, c. 5, s. 63; 2004, c. 8, s. 45; 2009, c. 5, s. 80; 2010, c. 25, s. 24.
238. Section 237 does not apply where the disposition is
(a)  a disposition deemed under section 242 as it read before 1 January 1993, any of sections 281, 283, 299 to 300, 436, 440, 444, 450, 450.6 and 653, Chapter I of Title I.1 of Book VI, paragraph f of section 785.5, section 832.1 or 851.22.15, paragraph b of section 851.22.23 or section 861, 862 or 999.1 to have been made;
(b)  the expiry of an option;
(c)  a disposition referred to in section 264.0.1;
(d)  a disposition by a corporation the control of which was acquired by a person or group of persons within 30 days after the time of disposition;
(e)  a disposition by a person that, within 30 days after the time of disposition, became or ceased to be exempt from tax under this Part on its taxable income; or
(f)  a disposition to which section 238.1 or the second paragraph of section 424 applies.
1972, c. 23, s. 224; 1975, c. 22, s. 39; 1984, c. 15, s. 56; 1985, c. 25, s. 40; 1987, c. 67, s. 58; 1995, c. 49, s. 58; 1996, c. 39, s. 64; 2000, c. 5, s. 63; 2004, c. 8, s. 45; 2009, c. 5, s. 80.
238. Section 237 does not apply where the disposition is
(a)  a disposition deemed under section 242 as it read before 1 January 1993, any of sections 281, 283, 299 to 300, 436, 440, 444, 450, 450.6 and 653, Chapter I of Title I.1 of Book VI, paragraph f of section 785.5, section 832.1 or 851.22.15, paragraph b of section 851.22.23 or section 861, 862 or 999.1 to have been made;
(b)  the expiry of an option;
(c)  a disposition referred to in section 264.0.1;
(d)  a disposition by a corporation the control of which was acquired by a person or group of persons within 30 days after the time of disposition;
(e)  a disposition by a person that, within 30 days after the time of disposition, became or ceased to be exempt from tax under this Part on its taxable income; or
(f)  a disposition to which section 238.1 or subsections 2 and 3 of section 424 apply.
1972, c. 23, s. 224; 1975, c. 22, s. 39; 1984, c. 15, s. 56; 1985, c. 25, s. 40; 1987, c. 67, s. 58; 1995, c. 49, s. 58; 1996, c. 39, s. 64; 2000, c. 5, s. 63; 2004, c. 8, s. 45.
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