I-3 - Taxation Act

Section 462.10 Disposition versions

2006-03-01

462.10. The designated person referred to in section 462.8 is deemed, for the purposes of sections 462.5 and 462.6, to have derived a taxable capital gain for the year from the disposition of property other than precious property that is property so loaned or transferred for an amount equal to the lesser of

(a)  the amount that was designated under section 668 in respect of the designated person in the trust’s fiscal return for the year, and

(b)  the amount, if any, by which the aggregate of all taxable capital gains for the year exceeds the aggregate of all allowable capital losses for the year from the disposition by the trust of property that is so loaned or transferred or any property substituted therefor.

1987, c. 67, s. 112.