I-3 - Taxation Act

Section 313.9 Disposition versions

2007-11-07

313.9. A taxpayer shall also include the aggregate of all amounts received in the year as consideration for the disposition by the taxpayer of a property, other than a property acquired by the taxpayer in circumstances to which section 527.3 or 617.1 applied, the cost of which was included in computing an amount determined under section 75.2.1 or 75.3 in respect of the taxpayer or in respect of a person with whom the taxpayer is not dealing at arm’s length, to the extent that the aggregate of those amounts received as consideration for the disposition of the property in the year or in a preceding taxation year exceeds the total of

(a)  the cost to the taxpayer of the property immediately before its disposition; and

(b)  the aggregate of all amounts included in respect of the disposition of the property under this section in computing the taxpayer’s income for a preceding taxation year.

2004, c. 8, s. 58; 2007, c. 12, s. 49.

2006-03-01

313.9. A taxpayer shall also include the aggregate of all amounts received in the year as consideration for the disposition by the taxpayer of a property, other than property acquired by the taxpayer in circumstances to which sections 527.3 and 617.1 applied, the cost of which was included in computing an amount determined under section 75.3 in respect of the taxpayer or in respect of a person with whom the taxpayer does not deal at arm’s length, to the extent that the aggregate of those amounts received as consideration for the disposition of the property in the year or in a preceding taxation year exceeds the total of

i.  the cost to the taxpayer of the property immediately before its disposition; and

ii.  the aggregate of all amounts included in respect of the disposition of the property under this section in computing the taxpayer’s income for a preceding taxation year.

2004, c. 8, s. 58.