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I-3 - Taxation Act

Section 111
Disposition versions

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111. Where, at any time, a benefit is conferred by a corporation on a shareholder of the corporation, on a member of a partnership that is a shareholder of the corporation or on a contemplated shareholder of the corporation, the amount or value of the benefit must be included in computing the income of the shareholder, member or contemplated shareholder, as the case may be, for its taxation year that includes the time.
1972, c. 23, s. 100; 1982, c. 5, s. 33; 1990, c. 59, s. 65; 1994, c. 22, s. 76; 1997, c. 3, s. 71; 2015, c. 21, s. 116.
111. Where, at any time in a taxation year, a benefit is conferred by a corporation on a shareholder, or on a person in contemplation of his becoming a shareholder, the amount or value thereof shall be included in computing the income of the shareholder or the person, as the case may be, for the year.
1972, c. 23, s. 100; 1982, c. 5, s. 33; 1990, c. 59, s. 65; 1994, c. 22, s. 76; 1997, c. 3, s. 71.
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