I-3 - Taxation Act

Section 1029.8.36.72.23 Disposition versions

2021-06-04

1029.8.36.72.23. (Repealed).

2001, c. 51, s. 182; 2002, c. 40, s. 181; 2003, c. 9, s. 294; 2021, c. 18, s. 125.

2006-03-01

1029.8.36.72.23. Where a corporation, in this section referred to as the “new corporation”, resulting from the amalgamation, within the meaning of section 544, of two or more corporations, each of which referred to in this section as a “predecessor corporation”, carries on after the amalgamation a business carried on before the amalgamation by a predecessor corporation, the new corporation and the predecessor corporation are deemed, for the purpose of determining the amount that a corporation is deemed to have paid to the Minister under this division for the taxation year in which the calendar year in which the amalgamation occurred ends and for a subsequent taxation year, to be the same corporation throughout the period during which the predecessor corporation carried on, or is deemed to have carried on under this division, the business.

In addition, for the purposes of this division, where the new corporation carries on after the amalgamation a recognized business resulting from the consolidation of recognized businesses carried on by predecessor corporations, immediately before the amalgamation, each recognized business so carried on before the amalgamation is deemed to be a separate recognized business carried on by the new corporation after the amalgamation.

2001, c. 51, s. 182; 2002, c. 40, s. 181; 2003, c. 9, s. 294.