I-3 - Taxation Act

Section 772.5.3 Disposition versions

2006-03-01

772.5.3. Section 772.5.2 does not apply to a property of a taxpayer

(a)  that is a capital property;

(b)  that is a debt obligation issued to the taxpayer that has a term of one year or less and that is held by no one other than the taxpayer at any time;

(c)  that was last acquired by the taxpayer before 24 February 1998; or

(d)  in respect of which any tax described in the first paragraph of section 772.5.2 is, because of section 772.5.1, not included in computing the taxpayer’s business-income tax or non-business-income tax.

2001, c. 53, s. 133.