I-4 - Act respecting the application of the Taxation Act

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66. For the purposes of this chapter, a taxpayer who disposes before 1972 but after 18 June 1971 of any property which he owned on such date and redeems within a delay of thirty days after that disposition the same property or purchases a property almost similar thereto, is deemed to have owned on 18 June 1971 the property so redeemed or purchased and thereafter without interruption until the time of redemption or purchase.
In the case of the property redeemed, its actual cost or its depreciated cost on 1 January 1972 is deemed to be the same to the taxpayer as if he had not disposed of it; in the case of the property so purchased that is almost similar, that actual cost and that depreciated cost are deemed to be on 1 January 1972 the actual cost or the depreciated cost of the property so disposed of on the date of its disposition.
1972, c. 24, s. 69.