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I-3 - Taxation Act

Section 726.9.11
Disposition versions

Full text
726.9.11. An election made under section 726.9.2 cannot be revoked or amended where the amount designated in the election exceeds the product obtained by multiplying 11/10 by
(a)  if the election is in respect of a property other than an interest in a partnership, the fair market value of the property at the end of 22 February 1994;
(b)  if the election is in respect of an interest in a partnership, the greater of $1 and the fair market value of the property at the end of 22 February 1994; and
(c)  if the election is in respect of a business, the greater of $1 and the fair market value at the end of 22 February 1994 of all the incorporeal capital property owned at that time by the elector in respect of the business.
1996, c. 39, s. 186; 2000, c. 5, s. 157; 2005, c. 1, s. 141.
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