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I-3 - Taxation Act

Section 238.3.1
Disposition versions

Full text
238.3.1. If all or any portion of the capital loss of the succession of a deceased taxpayer, computed without reference to sections 238.1 and 238.3, from the disposition of a share of the capital stock of a corporation is, because of section 1054, considered to be a capital loss of the deceased taxpayer from the disposition of the share, sections 238.1 and 238.3 apply to the succession in respect of the loss only to the extent that the amount of the loss exceeds the portion of the loss that is determined under subparagraph a of the first paragraph of section 1054.
2005, c. 38, s. 64; 2009, c. 5, s. 82.
238.3.1. If, in the course of administering the succession of a deceased taxpayer, the taxpayer’s legal representative elects in accordance with section 1054 to treat all or any portion of a succession’s capital loss, computed without reference to sections 238.1 and 238.3, from the disposition of a share of the capital stock of a corporation as a capital loss of the deceased taxpayer from the disposition of the share, sections 238.1 and 238.3 apply to the succession in respect of the loss only to the extent that the amount of the loss exceeds the portion of the loss to which the election applies.
2005, c. 38, s. 64.
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