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I-3 - Taxation Act

Section 744.2.1
Disposition versions

Full text
744.2.1. A qualified dividend is not to be included in the aggregate determined under paragraph a of section 744.2 where the trust referred to in that section establishes that
(a)  it was received when the trust and persons with whom the trust was not dealing at arm’s length did not own in total more than 5% of the issued shares of any class of the capital stock of the corporation from which the dividend was received; and
(b)  it was received on a share that the trust owned throughout the 365-day period that ended immediately before the disposition of the share by the trust.
2001, c. 7, s. 99; 2012, c. 8, s. 108.
744.2.1. A dividend shall not be included in the aggregate determined under paragraph a of section 744.2 where the trust referred to in that section establishes that
(a)  it was received when the trust and persons with whom the trust was not dealing at arm’s length did not own in total more than 5% of the issued shares of any class of the capital stock of the corporation from which the dividend was received; and
(b)  it was received on a share that the trust owned throughout the 365-day period that ended immediately before the disposition of the share by the trust.
2001, c. 7, s. 99.
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