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

Section 851.22.13r2
Disposition versions

Full text
851.22.13R2. Subparagraph a of the first paragraph of section 851.22.13R1 does not apply in respect of a taxpayer for a taxation year if
(a)  generally accepted accounting principles require that the taxpayer’s gains and losses arising on the disposition of a class of debt obligations be amortized to profit for the purposes of the taxpayer’s financial statements;
(b)  the taxpayer has elected not to have subparagraph a of the first paragraph of section 851.22.13R1 apply; and
(c)  the election referred to in paragraph b applies to dispositions in the year.
O.C. 390-2012, s. 64.
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