I-3 - Taxation Act

Section 630.1 Disposition versions

2019-06-19

630.1. (Repealed).

1994, c. 22, s. 217; 1996, c. 39, s. 170; 1997, c. 3, s. 71; 2003, c. 2, s. 143; 2005, c. 1, s. 126; 2019, c. 14, s. 168.

2006-03-01

630.1. Where incorporeal capital property in respect of a business is so received by the person contemplated in section 626, the following rules apply:

(a)  for the purpose of determining the person’s eligible incorporeal capital amount in respect of the business, an amount equal to 3/4 of the particular amount determined under section 628 in respect of the business shall be added to the amount otherwise determined in respect thereof under subparagraph i of subparagraph a of the second paragraph of section 107; and

(b)  for the purpose of determining after the particular time the amount required by paragraph b of section 105 to be included in computing the person’s income in respect of any subsequent disposition of the property of the business, the amount determined under subparagraph ii of subparagraph a of the second paragraph of section 107 is deemed to be equal to the amount determined under that subparagraph ii in respect of the partnership’s business immediately before the particular time.

1994, c. 22, s. 217; 1996, c. 39, s. 170; 1997, c. 3, s. 71; 2003, c. 2, s. 143; 2005, c. 1, s. 126.