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I-3 - Taxation Act

Section 725.2.2
Disposition versions

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725.2.2. Subject to section 725.2.3, an individual may deduct, in computing the individual’s taxable income for a taxation year, where the individual disposes of a security acquired in the year by the individual under an agreement referred to in section 48 by making a gift of the security to a qualified donee, an amount in respect of the disposition of the security equal to 1/2 of the lesser of the benefit deemed by section 49 to have been received by the individual in the year in respect of the acquisition of the security and the amount that would have been that benefit had the value of the security at the time of its acquisition by the individual been equal to the value of the security at the time of the disposition if
(a)  the security is a security described in any of subparagraphs i to v of paragraph a of section 231.2;
(b)  (paragraph repealed);
(c)  the gift is made in the year and on or before the day that is 30 days after the day on which the individual acquired the security; and
(d)  the individual is entitled to a deduction under section 725.2 in respect of the acquisition of the security.
2003, c. 2, s. 196; 2004, c. 8, s. 137; 2006, c. 36, s. 56; 2009, c. 15, s. 110; 2017, c. 1, s. 170; 2017, c. 29, s. 93.
725.2.2. Subject to section 725.2.3, an individual may deduct, in computing the individual’s taxable income for a taxation year, where the individual disposes of a security acquired in the year by the individual under an agreement referred to in section 48 by making a gift of the security to a qualified donee, an amount in respect of the disposition of the security equal to 1/2 of the lesser of the benefit deemed by section 49 to have been received by the individual in the year in respect of the acquisition of the security and the amount that would have been that benefit had the value of the security at the time of its acquisition by the individual been equal to the value of the security at the time of the disposition if
(a)  the security is a security described in any of subparagraphs i to v of paragraph a of section 231.2;
(b)  (paragraph repealed);
(c)  the gift is made in the year and on or before the day that is 30 days after the day on which the individual acquired the security; and
(d)  the individual is entitled to a deduction under section 725.2 in respect of the acquisition of the security.
For the purposes of the first paragraph, if a gift is made to a private foundation after 18 March 2007 and subsection 8 of section 149.2 of the Income Tax Act (R.S.C. 1985, c. 1 (5th Suppl.)) applies to the foundation in respect of a class of shares of the capital stock of a corporation, the portion of that paragraph before subparagraph a is to be read as if “other than a private foundation,” was inserted after “qualified donee,”.
2003, c. 2, s. 196; 2004, c. 8, s. 137; 2006, c. 36, s. 56; 2009, c. 15, s. 110; 2017, c. 1, s. 170.
725.2.2. Subject to section 725.2.3, an individual may deduct, in computing the individual’s taxable income for a taxation year, where the individual disposes of a security acquired in the year by the individual under an agreement referred to in section 48 by making a gift of the security to a qualified donee, an amount in respect of the disposition of the security equal to 1/2 of the lesser of the benefit deemed by section 49 to have been received by the individual in the year in respect of the acquisition of the security and the amount that would have been that benefit had the value of the security at the time of its acquisition by the individual been equal to the value of the security at the time of the disposition if
(a)  the security is a security described in any of subparagraphs ii to vi of paragraph a of section 231.2;
(b)  (paragraph repealed);
(c)  the gift is made in the year and on or before the day that is 30 days after the day on which the individual acquired the security; and
(d)  the individual is entitled to a deduction under section 725.2 in respect of the acquisition of the security.
For the purposes of the first paragraph, if a gift is made to a private foundation after 18 March 2007 and subsection 8 of section 149.2 of the Income Tax Act (R.S.C. 1985, c. 1 (5th Suppl.)) applies to the foundation in respect of a class of shares of the capital stock of a corporation, the portion of that paragraph before subparagraph a is to be read as if “other than a private foundation,” was inserted after “qualified donee,”.
2003, c. 2, s. 196; 2004, c. 8, s. 137; 2006, c. 36, s. 56; 2009, c. 15, s. 110.
725.2.2. Subject to section 725.2.3, an individual may deduct, in computing the individual’s taxable income for a taxation year, where the individual disposes of a security acquired in the year by the individual under an agreement referred to in section 48 by making a gift of the security to a qualified donee, other than a private foundation, an amount in respect of the disposition of the security equal to 1/2 of the lesser of the benefit deemed by section 49 to have been received by the individual in the year in respect of the acquisition of the security and the amount that would have been that benefit had the value of the security at the time of its acquisition by the individual been equal to the value of the security at the time of the disposition if
(a)  the security is a security described in any of subparagraphs ii to vi of paragraph a of section 231.2;
(b)  (paragraph repealed);
(c)  the gift is made in the year and on or before the day that is 30 days after the day on which the individual acquired the security; and
(d)  the individual is entitled to a deduction under section 725.2 in respect of the acquisition of the security.
2003, c. 2, s. 196; 2004, c. 8, s. 137; 2006, c. 36, s. 56.
725.2.2. Subject to section 725.2.3, an individual may deduct, in computing the individual’s taxable income for a taxation year, where the individual disposes of a security acquired in the year by the individual under an agreement referred to in section 48 by making a gift of the security to a qualified donee, other than a private foundation, an amount in respect of the disposition of the security equal to 1/4 of the lesser of the benefit deemed by section 49 to have been received by the individual in the year in respect of the acquisition of the security and the amount that would have been that benefit had the value of the security at the time of its acquisition by the individual been equal to the value of the security at the time of the disposition if
(a)  the security is a security described in any of subparagraphs ii to vi of paragraph a of section 231.2;
(b)  (paragraph repealed);
(c)  the gift is made in the year and on or before the day that is 30 days after the day on which the individual acquired the security; and
(d)  the individual is entitled to a deduction under section 725.2 in respect of the acquisition of the security.
2003, c. 2, s. 196; 2004, c. 8, s. 137.
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