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

Section 1086r90 Disposition versions

2012-09-01

1086R90. For the purposes of section 1086R89, in computing the assets of a corporation at the time referred to therein, the amount representing the surplus reassessment of its property and the amount of its incorporeal assets must be subtracted, to the extent that the amount indicated in their respect exceeds the expenditure made in their respect.

For the purposes of the first paragraph, where all or part of an expenditure made in respect of incorporeal assets consists of shares of the corporation’s or cooperative’s capital stock, all or the part of the expenditure, as the case may be, is deemed to be nil.

s. 1086R23.12.2; O.C. 1454-99, s. 60; O.C. 1249-2005, s. 54; O.C. 134-2009, s. 1.