I-3 - Taxation Act

Section 332.4 Disposition versions

2006-03-01

332.4. Notwithstanding paragraph b.1 of section 332.3, the stated percentage in respect of a particular amount that became receivable by a taxpayer within 60 days after 31 December 1989 and in respect of which the consideration given by him was a property or services shall be 50% where the person to whom the consideration was given is a corporation that, on or before 31 December 1989, had issued, or had undertaken to issue, a flow-through share and that renounces under section 359.8, effective on 31 December 1989, an amount in respect of Canadian exploration expenses that includes an expenditure in respect of that particular amount.

1990, c. 59, s. 150; 1997, c. 3, s. 71.