I-3, r. 1 - Regulation respecting the Taxation Act

Section 130r123 Disposition versions

2012-09-01

130R123. Where a taxpayer acquired a property of a class in Schedule B that was a depreciable property of the person from whom the taxpayer acquired it and that had belonged to that person without interruption for at least 364 days before the end of the taxation year of the taxpayer during which the taxpayer acquired the property, or since 12 November 1981, to the day of its acquisition by the taxpayer, or that was a property in respect of which the rules in section 130R124 were applied for the purpose of determining the amount that the person from whom the taxpayer acquired the property was entitled to deduct under section 130R1, the rules in section 130R124 apply in respect of the property if it was acquired

(a)  in the course of a reorganization in respect of which, if a dividend were received by a corporation in the course of the reorganization, section 308.1 of the Act would not be applicable to the dividend by reason of the application of section 308.3 of the Act; or

(b)  from a person with whom the taxpayer did not deal at arm’s length at the time of acquisition of the property otherwise than under a right referred to in paragraph b of section 20 of the Act.

s. 130R55.11; O.C. 2847-84, s. 8; O.C. 1471-91, s. 15; O.C. 1697-92, s. 30; O.C. 1707-97, s. 98; O.C. 134-2009, s. 1.