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I-3 - Taxation Act

Section 485.36
Disposition versions

Full text
485.36. For the purposes of section 485.35, a person shall be considered to have surrendered a property at any time only where
(a)  in the case of a share of the capital stock of a particular corporation,
i.  the person is a corporation that disposed of the share at that time and the proceeds of disposition of the share are determined under section 558, or
ii.  the person is a corporation that owned the share at that time and, immediately after that time, amalgamates or merges with the particular corporation;
(b)  in the case of a capital interest in a trust, the person disposed of the interest at that time and the proceeds of disposition are determined under subparagraph c of the first paragraph of section 688; and
(c)  in the case of an interest in a partnership, the person disposed of the interest at that time and the proceeds of disposition are determined under section 621 or 627.
1996, c. 39, s. 142; 1997, c. 3, s. 71; 2003, c. 2, s. 133.
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