I-3 - Taxation Act

Section 522.4 Disposition versions

2009-05-15

522.4. (Repealed).

2002, c. 40, s. 41; 2009, c. 5, s. 178.

2006-03-01

522.4. Where there is a disposition of property as part of a series of transactions or events and the property is the subject of more than one disposition as part of the series of transactions or events, the conditions described in section 522.1 in relation to the carrying on of a business or the proportion of the business carried on in Québec, and section 522.3, except for the purposes of the third and fourth paragraphs of section 522.3, shall be interpreted as if

(a)  a reference therein to the taxpayer were a reference to the transferor of the property at the time of the first such disposition, in paragraph b referred to as the “first transferor of the property” ;

(b)  a reference therein to the taxation year of the taxpayer in which the disposition is made were a reference to the taxation year or the fiscal period, as the case may be, of the first transferor of the property in which the disposition referred to in paragraph a was made;

(c)  a reference therein to the corporation were a reference to the transferee of the property at the time of the last such disposition, in paragraph d referred to as the “last transferee of the property” ; and

(d)  a reference therein to the taxation year of the corporation in which the disposition is made were a reference to the taxation year or fiscal period, as the case may be, of the last transferee of the property in which the disposition referred to in paragraph c was made.

2002, c. 40, s. 41.