A-6.002 - Tax Administration Act

Section 94.0.3.4 Disposition versions

2021-01-01

94.0.3.4. (Repealed).

2002, c. 9, s. 143; 2019, c. 14, s. 11.

2002-06-08

94.0.3.4. Where, at any time, a person or partnership, in this section referred to as the “acquirer”, acquired all or substantially all of a recognized business from another person or partnership, in this section referred to as the “vendor”, and the Minister of Finance previously authorized the acquisition for the purposes of section 94.0.3.2 or 94.0.3.3, the following rules apply:

(a)  for the purposes of subparagraph b of the third paragraph of section 94.0.3.2 and subparagraph a of the second paragraph of section 94.0.3.3, the initial qualification certificate issued to the vendor, in relation to the major investment project, is deemed to have been issued, from that time, to the acquirer;

(b)  an amount shall be computed in respect of the vendor, under subparagraph i or ii of each of subparagraphs a and b of the first paragraph of section 94.0.3.2, in respect of the vendor’s taxation year or fiscal period, which includes that time and which, but for the transfer, would have ended in the vendor’s compensation period, in relation to the major investment project; and

(c)  the particular period referred to in subparagraph c of the first paragraph of section 94.0.3.2 or section 94.0.3.3, determined in respect of the vendor, is deemed to end at that time.

2002, c. 9, s. 143.