I-3 - Taxation Act

Section 743 Disposition versions

2006-03-01

743. Subject to sections 744.4 and 744.5, a taxpayer, other than a trust, shall subtract from the amount of any loss, determined without reference to this section, resulting from the disposition of a share of the capital stock of a corporation that is property, other than capital property, of the taxpayer,

(a)  where the taxpayer is an individual and the corporation is resident in Canada, the aggregate of all dividends received by the individual on the share;

(b)  where the taxpayer is a partnership, the aggregate of all dividends received by the partnership on the share; and

(c)  where the taxpayer is a corporation, the aggregate of all amounts received by the corporation on the share each of which is

i.  a taxable dividend, to the extent of the amount of the dividend that was deductible under this Title or section 845 in computing the corporation’s taxable income for any taxation year, or

ii.  a dividend, other than a taxable dividend.

1972, c. 23, s. 561; 1975, c. 22, s. 205; 1978, c. 26, s. 132; 1985, c. 25, s. 126; 1987, c. 67, s. 152; 1993, c. 16, s. 279; 1995, c. 49, s. 169; 1996, c. 39, s. 200; 1997, c. 3, s. 71; 2001, c. 7, s. 93.