I-3 - Taxation Act

Section 517.1 Disposition versions

2006-03-01

517.1. The rules provided in this chapter apply where, after 22 May 1985, a taxpayer resident in Canada other than a corporation disposes of shares, hereinafter referred to as the “subject shares”, that are capital property for him, of any class of the capital stock of a particular corporation resident in Canada in favour of another corporation, hereinafter referred to as the “purchaser corporation”, with which he does not deal at arm’s length and, immediately after the disposition, the particular corporation is connected, within the meaning of the regulations, with the purchaser corporation.

1978, c. 26, s. 93; 1979, c. 18, s. 44; 1987, c. 67, s. 122; 1997, c. 3, s. 71.