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I-3 - Taxation Act

Section 183
Disposition versions

Full text
183. Subject to section 175.2.7, borrowed money used by a taxpayer to repay money previously borrowed or to pay an amount payable for property referred to in paragraph b of section 160 or 161 and previously acquired (which previously borrowed money or amount payable in respect of previously acquired property is, in this section, referred to as the “previous indebtedness”) is deemed, for the purposes of this division and sections 160, 161, 175.2.2 and 175.2.3, to be used for the purposes for which the previous indebtedness was used or incurred, or was deemed, under this section, to have been used or incurred.
1972, c. 23, s. 170; 1990, c. 59, s. 103; 1995, c. 49, s. 57; 2010, c. 5, s. 23.
183. Subject to section 175.2.7, borrowed money used by a taxpayer to repay money previously borrowed or to pay an amount payable for property referred to in paragraph b of section 160 or 161 and previously acquired is deemed, for the purposes of this Division and sections 160, 175.2.2 and 175.2.3, to be used for the purposes for which the money previously borrowed was used or was deemed, under this section, to have been used, or to acquire property in respect of which the amount was so payable, as the case may be.
1972, c. 23, s. 170; 1990, c. 59, s. 103; 1995, c. 49, s. 57.
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