I-3 - Taxation Act

Section 1079.12 Disposition versions

2006-06-13

1079.12. Section 1079.10 applies to a transaction only if it may reasonably be considered that

(a)  but for this Title, the transaction would directly or indirectly result in a misuse of the provisions of one or more of

i.  this Act,

ii.  the Act respecting the application of the Taxation Act (chapter I-4),

iii.  the Regulation respecting the Taxation Act (chapter I-3, r. 1),

iv.  a tax agreement, or

v.  any other legislative or regulatory provision that is relevant for computing the tax or another amount payable by a person or refundable to a person under this Act, or for determining an amount that is to be taken into account in that computation; or

(b)  the transaction would directly or indirectly result in an abuse having regard to the provisions referred to in paragraph a, other than this Title, read as a whole.

1990, c. 59, s. 351; 2006, c. 13, s. 204.

2006-03-01

1079.12. For greater certainty, where it may reasonably be considered that a transaction would not result directly or indirectly in a misuse of the provisions of this Act or an abuse having regard to the provisions of this Act, other than this Title, read as a whole, section 1079.10 does not apply to the transaction.

1990, c. 59, s. 351.