Consolidated Statutes and Regulations Consolidated Statutes Consolidated Regulations Annual Statutes and Regulations Annual Statutes Annual Regulations Additional information Québec Official Publisher What’s new? Information note Policy of the Minister of Justice Laws: Amendments Laws: Provisions not in force Laws: Provisions brought into force Annual Statutes: PDF versions since 1996 Regulations: Amendments Annual Regulations: PDF versions since 1996 Court Decisions

I-3 - Taxation Act

Section 484.10
Disposition versions

Full text
484.10. Where a property is seized at any time in a taxation year by a creditor in respect of one or more debts and the property was capital property of the creditor that was disposed of by the creditor at a previous time in the year, the proceeds of disposition of the property to the creditor at the previous time are deemed to be the lesser of the amount of the proceeds, determined without reference to this section, and the amount that is the greater of
(a)  the amount by which the amount of such proceeds, determined without reference to this section, exceeds such portion of the proceeds as is represented by the specified amounts of those debts immediately before that time; and
(b)  the cost amount to the creditor of the property immediately before the previous time.
1996, c. 39, s. 139.
© Gouvernement du Québec