I-3 - Taxation Act

Section 384.5 Disposition versions

2017-02-08

384.5. For the purposes of section 384.4, where the taxpayer referred to in that section was formed or created in the 12-month period referred to in the first paragraph of that section, the taxpayer is deemed to have been

(a)  in existence throughout the period that began immediately before that 12-month period and ended immediately after it was formed or created; and

(b)  affiliated, throughout the period referred to in paragraph a, with every person with whom it was affiliated, otherwise than because of a right referred to in paragraph b of section 20, throughout the period that began when it was formed or created and ended immediately before the time at which the taxpayer was subject to the loss restriction event referred to in that section.

1989, c. 77, s. 39; 1997, c. 3, s. 71; 2000, c. 5, s. 95; 2017, c. 1, s. 118.

2006-03-01

384.5. For the purposes of section 384.4, where the corporation referred to in that section was incorporated or otherwise formed in the 12-month period, it is deemed to have been

(a)  in existence throughout the period that began immediately before that 12-month period and ended immediately after it was incorporated or otherwise formed; and

(b)  affiliated, throughout the period referred to in paragraph a, with every person with whom it was affiliated, otherwise than because of a right referred to in paragraph b of section 20, throughout the period that began when it was incorporated or otherwise formed and ended immediately before its control was acquired.

1989, c. 77, s. 39; 1997, c. 3, s. 71; 2000, c. 5, s. 95.