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

Section 851.22.4r7 Disposition versions

2012-09-01

851.22.4R7. For the purposes of paragraph b of section 851.22.4R2 and paragraph a of section 851.22.4R3, if section 851.22.4 of the Act applies to a taxpayer for a particular taxation year in respect of a specified debt obligation and either that section did not apply in respect of the obligation for the taxpayer’s immediately preceding taxation year or the taxpayer did not own the obligation at the end of that immediately preceding taxation year, the taxpayer’s accrual adjustment in respect of the obligation for the particular taxation year is nil.

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