I-3 - Taxation Act

Section 1029.8.19.10 Disposition versions

2015-12-04

1029.8.19.10. In computing a taxpayer’s or a partnership’s assets, for the purposes of section 1029.8.19.9, the amount of the surplus reassessment of its property and the amount of its incorporeal assets are to be subtracted, to the extent that the amount designated in their respect exceeds the expenditure made in their respect.

For the purposes of the first paragraph, all or part of an expenditure made in respect of a taxpayer’s or a partnership’s incorporeal assets is deemed to be nil if all or part of that expenditure consists

(a)  in the case of a taxpayer that is a corporation or a cooperative, as applicable, of a share of the taxpayer’s capital stock; or

(b)  in the case of a partnership, of an interest in the partnership.

2015, c. 36, s. 99.