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I-3 - Taxation Act

Section 262.1
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262.1. The rule set out in section 262.2 applies for the purpose of computing at a particular time a taxpayer’s gain or loss (in this section and section 262.2 referred to as the “new gain” or “new loss”, as the case may be), in respect of the whole or any part (in this section and section 262.2 referred to as the “relevant part”) of a foreign currency debt of the taxpayer, arising—otherwise than because of the application of section 736.0.0.1—from a fluctuation in the value of the currency of the foreign currency debt, if before the particular time the taxpayer realized a capital gain or loss in respect of the foreign currency debt because of section 736.0.0.1.
2010, c. 5, s. 29; 2017, c. 1, s. 113.
262.1. The rule set out in section 262.2 applies for the purpose of computing at a particular time a corporation’s gain or loss (in this section and section 262.2 referred to as the “new gain” or “new loss”, as the case may be), in respect of the whole or any part (in this section and section 262.2 referred to as the “relevant part”) of a foreign currency debt of the corporation, arising—otherwise than because of the application of section 736.0.0.1—from a fluctuation in the value of the currency of the foreign currency debt, if before the particular time the corporation realized a capital gain or loss in respect of the foreign currency debt because of section 736.0.0.1.
2010, c. 5, s. 29.
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