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I-3 - Taxation Act

Section 517.5
Disposition versions

Full text
517.5. For the purposes of this chapter, a taxpayer is deemed not to deal at arm’s length with the corporation in favour of which a disposition contemplated in section 517.1 is made if, immediately before the disposition, he is a member of a group of less than six persons that controls the corporation the share of which is disposed of and if, immediately after the disposition, he is a member of a group of less than six persons that controls the corporation in favour of which the disposition is made, each member of which is a member of the group of less than six persons that, immediately before the disposition, controlled the corporation the share of which is disposed of.
1978, c. 26, s. 93; 1979, c. 18, s. 45; 1997, c. 3, s. 71.
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