Ministère de l'Emploi et de la Solidarité sociale
Consolidated Statutes and Regulations Consolidated Statutes Consolidated Regulations Annual Statutes and Regulations Annual Statutes Annual Regulations Additional information Québec Official Publisher What’s new? Information note Policy of the Minister of Justice Laws: Amendments Laws: Provisions not in force Laws: Provisions brought into force Annual Statutes: PDF versions since 1996 Regulations: Amendments Annual Regulations: PDF versions since 1996 Court Decisions

I-3 - Taxation Act

Section 237
Disposition versions

Full text
237. The loss of a taxpayer from the disposition of a particular property is not allowable where
(a)  during the period that begins 30 days before and ends 30 days after the time of disposition, the taxpayer or a person affiliated with the taxpayer acquires a property, in this section referred to as the “substituted property”, that is, or is identical to, the particular property; and
(b)  at the end of the 30 days following the time of disposition, the taxpayer or a person affiliated with the taxpayer owns or has a right to acquire the substituted property.
For the purposes of the first paragraph,
(a)  a right to acquire a property (other than a right, as security only, derived from a hypothec, mortgage, agreement of sale or similar obligation) is deemed to be a property that is identical to the property; and
(b)  a share of the capital stock of a SIFT wind-up corporation in respect of a SIFT wind-up entity is, if the share was acquired before 1 January 2013, deemed to be a property that is identical to an interest in the entity that is an investment in a SIFT wind-up entity.
1972, c. 23, s. 223; 1975, c. 22, s. 38; 1977, c. 26, s. 22; 1990, c. 59, s. 115; 1997, c. 3, s. 71; 2000, c. 5, s. 63; 2005, c. 1, s. 76; 2010, c. 25, s. 23.
237. The loss of a taxpayer from the disposition of a particular property is not allowable where
(a)  during the period that begins 30 days before and ends 30 days after the time of disposition, the taxpayer or a person affiliated with the taxpayer acquires a property, in this section referred to as the “substituted property”, that is, or is identical to, the particular property; and
(b)  at the end of the 30 days following the time of disposition, the taxpayer or a person affiliated with the taxpayer owns or has a right to acquire the substituted property.
For the purposes of the first paragraph, a right to acquire a property, other than a right, as security only, derived from a hypothec, mortgage, agreement of sale or similar obligation, is deemed to be a property that is identical to the property.
1972, c. 23, s. 223; 1975, c. 22, s. 38; 1977, c. 26, s. 22; 1990, c. 59, s. 115; 1997, c. 3, s. 71; 2000, c. 5, s. 63; 2005, c. 1, s. 76.
© Gouvernement du Québec