I-3 - Taxation Act

Section 1029.8.16.5 Disposition versions

2010-10-27

1029.8.16.5. (Repealed).

2005, c. 1, s. 267; 2006, c. 13, s. 193; 2009, c. 15, s. 343; 2010, c. 25, s. 122.

2006-03-01

1029.8.16.5. For the purposes of this division in respect of a particular corporation for a particular taxation year, where another corporation was not associated with the particular corporation in the particular year but was associated with the particular corporation at any time in a taxation year in the particular corporation’s base period for the particular year, and all or substantially all of the property of that other corporation used by it in carrying on any business during that base period was acquired in any manner whatever by the particular corporation, or by a corporation associated with the particular corporation at any time in the particular year, the other corporation is deemed, notwithstanding that it may have ceased to exist, to be a corporation associated with the particular corporation in the particular year and to have had taxation years ending on anniversaries of the last day of its taxation year in which it was last associated with the particular corporation.

The first paragraph does not apply if the other corporation is a predecessor corporation, referred to in section 544, in respect of the particular corporation or in respect of a corporation associated with the particular corporation in the particular year or if the other corporation is a subsidiary, referred to in section 556, that was wound up before the particular year, if its parent corporation was the particular corporation or a corporation associated with the particular corporation in the particular year.

2000, c. 39, s. 128.