I-3 - Taxation Act

Section 638.2 Disposition versions

2009-05-15

638.2. A taxpayer who pays an amount at any time in a taxation year is deemed to have a capital loss from a disposition of property for the year if

(a)  the taxpayer disposed of an interest in a partnership before that time or, because of section 636, acquired before that time a right to receive property of a partnership;

(b)  that time is after the disposition or acquisition;

(c)  the amount would have been described in subparagraph i of paragraph i of section 255 had the taxpayer been a member of the partnership at that time; and

(d)  the amount is paid pursuant to a legal obligation of the taxpayer to pay the amount.

2009, c. 5, s. 196.