I-3 - Taxation Act

Section 752.0.10.11.2 Disposition versions

2009-05-15

752.0.10.11.2. If, at any given time, an individual makes a gift of a work of art referred to in section 752.0.10.11.1 to a donee referred to in that section, the lesser of the amount that may reasonably be considered as the consideration for the disposition by the donee of the work of art and its fair market value at the time of the disposition, is deemed, for the purposes of the definition of “total charitable gifts” in the first paragraph of section 752.0.10.1, to be the fair market value for the purpose of computing the eligible amount of the gift at the given time, for the purposes of section 752.0.10.12, to be the fair market value of the capital property at the given time and, for the purposes of section 752.0.10.13, to be the fair market value of the work of art at the given time.

1995, c. 63, s. 57; 2005, c. 23, s. 99; 2009, c. 5, s. 282.

2006-03-01

752.0.10.11.2. Where at any time an individual makes a gift of a work of art referred to in section 752.0.10.11.1 to a donee referred to in that section, the lesser of the amount that may reasonably be considered as the consideration for the disposition by the donee of the work of art and its fair market value at the time of the disposition, is deemed, for the purposes of the definition of “total charitable gifts” in the first paragraph of section 752.0.10.1, to be the fair market value of the gift at that time, for the purposes of section 752.0.10.12, to be the fair market value of the capital property at that time, and for the purposes of section 752.0.10.13, to be the fair market value of the work of art at that time.

1995, c. 63, s. 57; 2005, c. 23, s. 99.