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I-3 - Taxation Act

Section 726.14
Disposition versions

Full text
726.14. Despite sections 726.7 and 726.7.1, where an individual has a capital gain for a taxation year from the disposition of property, no amount in respect of that capital gain shall be deducted under this Title in computing the individual’s taxable income for the year if it may reasonably be considered, having regard to all the circumstances, that a significant portion of the capital gain is attributable to the fact that dividends were not paid on a share, other than a prescribed share, or that dividends paid on such a share in the year or in any preceding taxation year were less than 90% of the average annual rate of return on that share for that year.
1987, c. 67, s. 142; 1990, c. 59, s. 267; 1996, c. 39, s. 189; 2007, c. 12, s. 81; 2009, c. 15, s. 121; 2017, c. 29, s. 108.
726.14. Despite sections 726.7 to 726.7.3, where an individual has a capital gain for a taxation year from the disposition of property, no amount in respect of that capital gain shall be deducted under this Title in computing the individual’s taxable income for the year where it may reasonably be concluded, having regard to all the circumstances, that a significant portion of the capital gain is attributable to the fact that dividends were not paid on a share, other than a prescribed share, of a corporation or that dividends paid on such a share in the year or in any preceding taxation year were less than 90% of the average annual rate of return thereon for that year.
1987, c. 67, s. 142; 1990, c. 59, s. 267; 1996, c. 39, s. 189; 2007, c. 12, s. 81; 2009, c. 15, s. 121.
726.14. Despite sections 726.7 to 726.7.2, where an individual has a capital gain for a taxation year from the disposition of property, no amount in respect of that capital gain shall be deducted under this Title in computing the individual’s taxable income for the year where it may reasonably be concluded, having regard to all the circumstances, that a significant portion of the capital gain is attributable to the fact that dividends were not paid on a share, other than a prescribed share, of a corporation or that dividends paid on such a share in the year or in any preceding taxation year were less than 90% of the average annual rate of return thereon for that year.
1987, c. 67, s. 142; 1990, c. 59, s. 267; 1996, c. 39, s. 189; 2007, c. 12, s. 81.
726.14. Notwithstanding sections 726.7 and 726.7.1, where an individual has a capital gain for a taxation year from the disposition of property, no amount in respect of that capital gain shall be deducted under this Title in computing the individual’s taxable income for the year where it may reasonably be concluded, having regard to all the circumstances, that a significant portion of the capital gain is attributable to the fact that dividends were not paid on a share, other than a prescribed share, of a corporation or that dividends paid on such a share in the year or in any preceding taxation year were less than 90% of the average annual rate of return thereon for that year.
1987, c. 67, s. 142; 1990, c. 59, s. 267; 1996, c. 39, s. 189.
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