I-3 - Taxation Act

Section 613.2 Disposition versions

2022-06-08

613.2. For the purposes of sections 600, 600.0.3, 600.0.4, 602.1, 603 to 605.2, 608 to 613.10 and 727 to 737, the at-risk amount of a taxpayer, in respect of a partnership of which the taxpayer is a limited partner, at any particular time is the amount by which the aggregate of the following amounts exceeds the amount determined under section 613.3:

(a)  the adjusted cost base to the taxpayer of his partnership interest at that time, computed in accordance with section 613.5, where applicable;

(b)  where the particular time is the end of the fiscal period of the partnership, the aggregate of

i.  the taxpayer’s share of the income of the partnership from a particular source for that fiscal period, computed under the method described in subparagraph i of paragraph i of section 255, and

ii.  the amount referred to in subparagraph viii of paragraph i of section 255 in respect of the taxpayer for that fiscal period.

1988, c. 4, s. 40; 1990, c. 59, s. 213; 1997, c. 3, s. 71; 2001, c. 7, s. 62; 2022, c. 23, s. 37.

2006-03-01

613.2. For the purposes of sections 600, 603 to 605.2, 608 to 613.10 and 727 to 737, the at-risk amount of a taxpayer, in respect of a partnership of which the taxpayer is a limited partner, at any particular time is the amount by which the aggregate of the following amounts exceeds the amount determined under section 613.3:

(a)  the adjusted cost base to the taxpayer of his partnership interest at that time, computed in accordance with section 613.5, where applicable;

(b)  where the particular time is the end of the fiscal period of the partnership, the aggregate of

i.  the taxpayer’s share of the income of the partnership from a particular source for that fiscal period, computed under the method described in subparagraph i of paragraph i of section 255, and

ii.  the amount referred to in subparagraph viii of paragraph i of section 255 in respect of the taxpayer for that fiscal period.

1988, c. 4, s. 40; 1990, c. 59, s. 213; 1997, c. 3, s. 71; 2001, c. 7, s. 62.