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

Section 851.22.18r4 Disposition versions

2017-04-12

851.22.18R4. (Revoked).

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

2012-09-01

851.22.18R4. If section 633 of the Act deems a partnership, referred to in this section as the “new partnership”, to be a continuation of another partnership, referred to in this section as the “predecessor partnership”, the following rules apply:

(a)  the number of days referred to in subparagraph a of the second paragraph of section 851.22.18R1 is determined without including any days that are after the particular day on which the predecessor partnership’s assets were distributed to the new partnership; and

(b)  the amount prescribed for the purposes of section 851.22.18 of the Act in respect of the new partnership, for its taxation year that includes the particular day referred to in paragraph a, is equal to the total of the amount that would be determined under section 851.22.18R1 in respect of the new partnership for the year if the new partnership’s transition deduction did not include the predecessor partnership’s transition deduction, and the amount that would be determined under that section 851.22.18R1 in respect of the new partnership for the year if

i.  the number of days referred to in subparagraph a of the second paragraph of section 851.22.18R1 were determined without including the particular day and the days before that day, and

ii.  the amount determined under subparagraph b of the second paragraph of section 851.22.18R1 were equal to the predecessor partnership’s transition deduction.

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