I-3 - Taxation Act

Section 564.5 Disposition versions

2006-03-01

564.5. For the purposes of sections 563, 564.2 to 564.4.2, 710 to 712, 727, 728.1, 729, 731, 733.0.0.1 and 734 to 735.1, where a parent corporation was incorporated or otherwise formed after the end of a taxation year during which one of its subsidiaries sustained a loss or made a gift, the parent corporation is deemed, for the purpose of computing its taxable income for any taxation year,

(a)  to have been in existence during the period commencing immediately before the end of the first year during which the subsidiary sustained a loss or made a gift, as the case may be, and ending immediately after it was incorporated or otherwise formed;

(b)  to have had throughout that period fiscal periods ending on the day of the year on which its first fiscal period ended; and

(c)  to have been controlled throughout that period by the person or persons who controlled it immediately after it was incorporated or otherwise formed.

1978, c. 26, s. 103; 1981, c. 12, s. 5; 1984, c. 15, s. 123; 1985, c. 25, s. 101; 1995, c. 63, s. 43; 1997, c. 3, s. 71; 1997, c. 14, s. 88; 2000, c. 39, s. 34; 2001, c. 53, s. 84.