I-3 - Taxation Act

Section 21.25.1 Disposition versions

2020-09-24

21.25.1. For the purposes of this Part and for the purpose of determining whether a taxpayer has, in respect of a corporation, any direct or indirect influence that, if exercised, would result in control in fact of the corporation, the following rules apply:

(a)  all factors that are relevant in the circumstances must be taken into consideration; and

(b)  the determination must not be limited to, and the relevant factors need not include, whether the taxpayer has a legally enforceable right or ability to effect a change in the board of directors of the corporation, or its powers, or to exercise influence over the shareholder or shareholders who have that right or ability.

2020, c. 16, s. 30.