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I-3 - Taxation Act

Section 504.1
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504.1. For the purposes of paragraph f of subsection 2 of section 504, there shall be deducted in determining at any time the contributed surplus of a corporation that results, after 31 March 1977, from any event described in that paragraph the lesser of
(a)  the amount by which the amount of a dividend paid by the corporation at or before that time and after 31 March 1977 while being a public corporation, exceeds its retained earnings immediately before the payment of the dividend, and
(b)  the amount of the contributed surplus of the corporation immediately before the payment of the dividend referred to in paragraph a, that results, after 31 March 1977, from any event described in paragraph f of subsection 2 of section 504.
1993, c. 16, s. 202; 1997, c. 3, s. 71.
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