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I-3 - Taxation Act

Section 97.3
Disposition versions

Full text
97.3. Where, in a taxation year, a taxpayer disposes of a capital property that is an option with respect to depreciable property or immovable property in respect of which the taxpayer or any person with whom he is not dealing at arm’s length is entitled to a deduction in computing his income in respect of any amount paid for the use of, or the right to use, the property, for the purposes of this division, the amount, if any, by which the proceeds of disposition to the taxpayer of the option exceed his cost in respect thereof is deemed to be an excess referred to in section 94 in respect of the taxpayer for the year.
1982, c. 5, s. 29; 2020, c. 16, s. 190.
97.3. Where, in a taxation year, a taxpayer disposes of a capital property that is an option with respect to depreciable property or real property in respect of which the taxpayer or any person with whom he is not dealing at arm’s length is entitled to a deduction in computing his income in respect of any amount paid for the use of, or the right to use, the property, for the purposes of this division, the amount, if any, by which the proceeds of disposition to the taxpayer of the option exceed his cost in respect thereof is deemed to be an excess referred to in section 94 in respect of the taxpayer for the year.
1982, c. 5, s. 29.
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