I-3 - Taxation Act

Section 1082.3 Disposition versions

2019-06-19

1082.3. In this Title,

“tax benefit” has the meaning assigned by section 1079.9;

“transaction” includes an arrangement or event;

“transfer pricing capital adjustment” of a taxpayer for a taxation year means

(a)  an amount by which the adjusted cost base to the taxpayer of a capital property (other than a depreciable property) is reduced in the year because of an adjustment made under section 1082.4, or an amount by which the capital cost to the taxpayer of a depreciable property is reduced in the year because of an adjustment made under section 1082.4; or

(b)  the product obtained when the proportion that the taxpayer’s share of the income or loss of a partnership for a fiscal period that ends in the year is of the income or loss of the partnership for that fiscal period is multiplied by the amount by which the adjusted cost base to the partnership of a capital property (other than a depreciable property) is reduced in the fiscal period because of an adjustment made under section 1082.4 or by the amount by which the capital cost to the partnership of a depreciable property is reduced in the fiscal period because of an adjustment made under section 1082.4;

“transfer pricing income adjustment” of a taxpayer for a taxation year means the amount by which an adjustment made under section 1082.4, other than an adjustment included in determining a transfer pricing capital adjustment of the taxpayer for a taxation year, would result in an increase in the taxpayer’s income for the year or a decrease in a loss of the taxpayer for the year from a source if that adjustment were the only adjustment made under section 1082.4.

For the purposes of the definition of “transfer pricing capital adjustment” in the first paragraph, where the income and loss of a partnership for a fiscal period are nil, it shall be assumed that the income of the partnership for that fiscal period is equal to $1,000,000.

2001, c. 7, s. 154; 2003, c. 2, s. 284; 2004, c. 8, s. 183; 2005, c. 1, s. 276; 2006, c. 13, s. 206; 2019, c. 14, s. 433.

2006-06-13

1082.3. In this Title,

“tax benefit” has the meaning assigned by section 1079.9;

“transaction” includes an arrangement or event;

“transfer pricing capital adjustment” of a taxpayer for a taxation year means

(a)  an amount by which the adjusted cost base to the taxpayer of a capital property, other than a depreciable property, or an incorporeal capital amount of the taxpayer in respect of a business is reduced in the year because of an adjustment made under section 1082.4, or an amount by which the capital cost to the taxpayer of a depreciable property is reduced in the year because of an adjustment made under section 1082.4; or

(b)  the product obtained when the proportion that the taxpayer’s share of the income or loss of a partnership for a fiscal period that ends in the year is of the income or loss of the partnership for that fiscal period is multiplied by the amount by which the adjusted cost base to the partnership of a capital property, other than a depreciable property, or an incorporeal capital amount of the partnership in respect of a business is reduced in the fiscal period because of an adjustment made under section 1082.4, or by the amount by which the capital cost to the partnership of a depreciable property is reduced in the fiscal period because of an adjustment made under section 1082.4;

“transfer pricing income adjustment” of a taxpayer for a taxation year means the amount by which an adjustment made under section 1082.4, other than an adjustment included in determining a transfer pricing capital adjustment of the taxpayer for a taxation year, would result in an increase in the taxpayer’s income for the year or a decrease in a loss of the taxpayer for the year from a source if that adjustment were the only adjustment made under section 1082.4.

For the purposes of the definition of “transfer pricing capital adjustment” in the first paragraph, where the income and loss of a partnership for a fiscal period are nil, it shall be assumed that the income of the partnership for that fiscal period is equal to $1,000,000.

2001, c. 7, s. 154; 2003, c. 2, s. 284; 2004, c. 8, s. 183; 2005, c. 1, s. 276; 2006, c. 13, s. 206.

2006-03-01

1082.3. In this Title,

"tax benefit" means a reduction, avoidance or deferral of tax or other amount payable under this Act or an increase in a refund of tax or other amount under this Act;

"transaction" includes an arrangement or event;

"transfer pricing capital adjustment" of a taxpayer for a taxation year means

(a)  an amount by which the adjusted cost base to the taxpayer of a capital property, other than a depreciable property, or an incorporeal capital amount of the taxpayer in respect of a business is reduced in the year because of an adjustment made under section 1082.4, or an amount by which the capital cost to the taxpayer of a depreciable property is reduced in the year because of an adjustment made under section 1082.4; or

(b)  the product obtained when the proportion that the taxpayer’s share of the income or loss of a partnership for a fiscal period that ends in the year is of the income or loss of the partnership for that fiscal period is multiplied by the amount by which the adjusted cost base to the partnership of a capital property, other than a depreciable property, or an incorporeal capital amount of the partnership in respect of a business is reduced in the fiscal period because of an adjustment made under section 1082.4, or by the amount by which the capital cost to the partnership of a depreciable property is reduced in the fiscal period because of an adjustment made under section 1082.4;

"transfer pricing income adjustment" of a taxpayer for a taxation year means the amount by which an adjustment made under section 1082.4, other than an adjustment included in determining a transfer pricing capital adjustment of the taxpayer for a taxation year, would result in an increase in the taxpayer’s income for the year or a decrease in a loss of the taxpayer for the year from a source if that adjustment were the only adjustment made under section 1082.4.

For the purposes of the definition of "transfer pricing capital adjustment" in the first paragraph, where the income and loss of a partnership for a fiscal period are nil, it shall be assumed that the income of the partnership for that fiscal period is equal to $1,000,000.

2001, c. 7, s. 154; 2003, c. 2, s. 284; 2004, c. 8, s. 183; 2005, c. 1, s. 276.