I-3 - Taxation Act

Section 517.3 Disposition versions

2006-03-01

517.3. The aggregate referred to in the first instance in section 517.2 is the sum of

(a)  the increase, determined without reference to section 84.1 of the Income Tax Act (Revised Statutes of Canada, 1985, chapter 1, 5th Supplement) as it applies to the acquisition of the subject shares, in the paid-up capital in respect of all shares of the capital stock of the purchaser corporation as a result of the issue by that corporation of new shares as consideration for the subject shares;

(b)  the fair market value, immediately after the disposition, of any consideration, other than the new shares, received by the taxpayer from the purchaser corporation for the subject shares.

1978, c. 26, s. 93; 1984, c. 15, s. 110; 1987, c. 67, s. 122.