I-3 - Taxation Act

Section 1029.8.36.72.51 Disposition versions

2021-06-04

1029.8.36.72.51. (Repealed).

2002, c. 9, s. 98; 2003, c. 9, s. 308; 2021, c. 18, s. 125.

2006-03-01

1029.8.36.72.51. Where the rules in sections 556 to 564.1 and 565 apply to the winding-up of a subsidiary, within the meaning of section 556, and the parent corporation, within the meaning of section 556, carries on after the winding-up a business carried on before the winding-up by the subsidiary, the parent corporation and the subsidiary are deemed, for the purpose of determining the amount that a corporation is deemed to have paid to the Minister under this division for its taxation year in which the calendar year in which the winding-up occurred ends and for a subsequent taxation year, to be the same corporation throughout the period during which the subsidiary carried on, or is deemed to have carried on under this division, the business.

In addition, for the purposes of this division, where the parent corporation carries on after the winding-up a recognized business resulting from the consolidation of a recognized business carried on by the parent corporation immediately before the winding-up and a recognized business carried on by the subsidiary immediately before the winding-up, each recognized business so carried on before the winding-up is deemed to be a separate recognized business carried on by the parent corporation after the winding-up.

2002, c. 9, s. 98; 2003, c. 9, s. 308.