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I-3 - Taxation Act

Section 461
Disposition versions

Full text
461. If the proceeds of disposition, otherwise determined, of a property referred to in subparagraph 1 or 2 of subparagraph ii of paragraph b of section 460 are less than the lesser of the amount referred to in subparagraph i of that paragraph b and the amount determined under subparagraph 1 or 2 of subparagraph ii of that paragraph b that is applicable in respect of the property, they are deemed to be equal to the lesser of those amounts.
1973, c. 17, s. 52; 2007, c. 12, s. 63; 2019, c. 14, s. 131.
461. If the proceeds of disposition, otherwise determined, of a property referred to in any of subparagraphs 1 to 3 of subparagraph ii of paragraph b of section 460 are less than the lesser of the amount referred to in subparagraph i of that paragraph b and the amount determined under any of subparagraphs 1 to 3 of subparagraph ii of that paragraph b that is applicable in respect of the property, they are deemed to be equal to the lesser of those amounts.
1973, c. 17, s. 52; 2007, c. 12, s. 63.
461. Where the proceeds of the disposition of property contemplated in section 459 are less than the lesser of the amounts mentioned in paragraphs a and b of section 460, they are deemed equal to the lesser of these amounts.
1973, c. 17, s. 52.
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