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

Section 752.0.10.3r4 Disposition versions

2017-04-12

752.0.10.3R4. For the purposes of section 752.0.10.3 of the Act, where an individual makes a gift of a work of art to a particular person, other than such a person who acquires the work of art in connection with its primary mission or is a donee referred to in subparagraph c of the second paragraph of section 752.0.10.15.2 of the Act if that paragraph applies to the work of art the donee acquired, the receipt issued by the particular person in respect of that gift must contain the statement referred to in section 712R2 and the information required by paragraphs a to g and i of that section and the following information:

(a)  the date of the disposition of the work of art by the particular person;

(b)  the amount that may reasonably be considered as the consideration for that disposition; and

(c)  the fair market value of that work of art at the time of that disposition.

Where the receipt referred to in the first paragraph is issued to replace a receipt previously issued, it must also contain a clear indication to that effect and the serial number of the original receipt.

s. 752.0.10.3R3.1; O.C. 1633-96, s. 17; O.C. 134-2009, s. 1; O.C. 321-2017, s. 34.

2012-09-01

752.0.10.3R4. For the purposes of section 752.0.10.3 of the Act, where an individual makes a gift of a work of art to a particular person, other than such a person who acquires the work of art in connection with its primary mission, the receipt issued by the particular person in respect of that gift must contain the statement referred to in section 712R2 and the information required by paragraphs a to g and i of that section and the following information:

(a)  the date of the disposition of the work of art by the particular person;

(b)  the amount that may reasonably be considered as the consideration for that disposition; and

(c)  the fair market value of that work of art at the time of that disposition.

Where the receipt referred to in the first paragraph is issued to replace a receipt previously issued, it must also contain a clear indication to that effect and the serial number of the original receipt.

s. 752.0.10.3R3.1; O.C. 1633-96, s. 17; O.C. 134-2009, s. 1.