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I-3 - Taxation Act

Section 501
Disposition versions

Full text
501. Where a dividend contemplated in section 501.1 is paid, the following rules apply:
(a)  no part of that dividend shall be included in computing the income of a shareholder of the corporation under this Title; and
(b)  in computing the adjusted cost base of a share on which such a dividend is paid, the shareholder must deduct, in respect of that dividend, an amount as provided by subparagraph i of paragraph g of section 257.
1972, c. 23, s. 395; 1973, c. 17, s. 59; 1978, c. 26, s. 85; 1997, c. 3, s. 71.
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