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I-3 - Taxation Act

Section 716.0.6
Disposition versions

Full text
716.0.6. If this section applies because of section 716.0.5, the following rules apply despite paragraph a of section 296:
(a)  the corporation is deemed to have received proceeds of disposition of the property equal to the property’s fair market value at the particular time referred to in paragraph b of section 716.0.5; and
(b)  there shall be included in the aggregate referred to in paragraph a of section 710, for the corporation’s taxation year that includes the particular time, the amount by which the property’s fair market value exceeds the aggregate of the amounts described in subparagraphs 1 and 2 of subparagraph i of paragraph c of section 716.0.5.
2012, c. 8, s. 66.
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