I-3, r. 1 - Regulation respecting the Taxation Act

Section 360r63 Disposition versions

2012-09-01

360R63. Where, at any time, control of a taxpayer that is a corporation is acquired by a person or group of persons or where a taxpayer disposes of specified property or all or substantially all of Canadian resource properties and where, before that time, the taxpayer or a partnership of which the taxpayer was a member acquired a property and it is reasonable to consider that one of the principal purposes of such acquisition was to avoid a restriction provided for in section 360R18 related to the deduction in respect of the earned depletion base of the taxpayer or a corporation referred to in paragraph d or e of section 360R61 as the “transferee”, the taxpayer or the partnership, as the case may be, is deemed, for the purposes of applying section 360R18 to or in respect of the taxpayer, not to have acquired the property.

s. 360R28.2.2; O.C. 35-96, s. 56; O.C. 1707-97, s. 98; O.C. 134-2009, s. 1.