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I-3 - Taxation Act

Section 564.4.4
Disposition versions

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564.4.4. A parent may elect that any portion of a loss of the subsidiary that would otherwise be deemed, by reason of section 564.2, to be a loss of the parent for a particular taxation year commencing after the commencement of the winding-up be deemed, for the purpose of computing the parent’s taxable income for a taxation year commencing after the commencement of a winding-up described in section 556, to be a loss of the parent for its immediately preceding taxation year and not for the particular taxation year.
The parent referred to in the first paragraph must make the election referred to therein in its fiscal return under this Part for the particular taxation year.
1993, c. 16, s. 225; 1997, c. 3, s. 71.
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