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

Section 851.22.19r1 Disposition versions

2017-04-12

851.22.19R1. (Revoked).

O.C. 390-2012, s. 64; O.C. 321-2017, s. 42.

2012-09-01

851.22.19R1. The prescribed amount for the purposes of section 851.22.19 of the Act in respect of a taxpayer for its taxation year that includes 31 October 1994 is the amount, if any, by which the total of all amounts each of which is the taxable capital gain of the taxpayer for the year from the deemed disposition in the year, because of section 851.22.15 of the Act, of a property other than an excluded property, exceeds the total of

(a)  the total of all amounts each of which is the allowable capital loss of the taxpayer from the deemed disposition in the year, because of section 851.22.15 of the Act, of a property other than an excluded property; and

(b)  the amount, if any, by which the total of all amounts each of which is the allowable capital loss of the taxpayer for the year from the disposition of a mark-to-market property, within the meaning of section 851.22.1 of the Act, other than an excluded property or a property deemed disposed of because of section 851.22.15 of the Act, exceeds the total of all amounts each of which is the taxable capital gain of the taxpayer for the year from the disposition of a mark-to-market property, other than an excluded property or a property deemed disposed of because of that section 851.22.15.

For the purposes of the first paragraph, “excluded property” of a taxpayer means a mark-to-market property of the taxpayer for its taxation year that includes 31 October 1994 if

(a)  the taxpayer has a taxable capital gain or an allowable capital loss for the year from the disposition of the property to which section 828 of the Act applied; or

(b)  in the case of a taxpayer that was non-resident in the year, the property was a capital property other than a taxable Canadian property.

O.C. 390-2012, s. 64.