I-3 - Taxation Act

Section 752.0.10.11 Disposition versions

2009-06-04

752.0.10.11. For the purposes of this chapter, where an individual is, at the end of a fiscal period of a partnership, a member of the partnership, the eligible amount of a gift made in the name of the partnership is deemed to be the eligible amount of a gift made by the individual in the individual’s taxation year in which the fiscal period of the partnership ends, up to the proportion of his share in that partnership.

For the purposes of the first paragraph, the following rules apply to an individual if one or more partnerships (each of which is in this paragraph referred to as an “interposed partnership”) are interposed between the individual and a given partnership, for a given fiscal period of the given partnership:

(a)  the individual is deemed to be a member of a particular partnership at the end of a particular fiscal period of the particular partnership and that particular fiscal period is deemed to end in the individual’s taxation year in which ends the fiscal period of the interposed partnership of which the individual is directly a member, if

i.  the particular fiscal period is that which ends in the fiscal period (in this section referred to as the “interposed fiscal period”) of the interposed partnership that is a member of the particular partnership at the end of that particular fiscal period, and

ii.  the individual is a member, or deemed to be a member under this subparagraph a, of the interposed partnership described in subparagraph i at the end of the interposed partnership’s interposed fiscal period; and

(b)  the proportion of the individual’s share in the given partnership for the given fiscal period is deemed to be equal to the product obtained by multiplying the proportion of the individual’s share in the interposed partnership of which the individual is directly a member for the interposed partnership’s interposed fiscal period, by

i.  if there is only one interposed partnership, the proportion of the interposed partnership’s share in the given partnership for the given fiscal period, or

ii.  if there is more than one interposed partnership, the result obtained by multiplying together all proportions each of which is the proportion of an interposed partnership’s share in the particular partnership referred to in subparagraph a of which the interposed partnership is a member for the particular partnership’s particular fiscal period.

The rule set out in the second paragraph does not apply in respect of an individual, in relation to a given partnership, if the Minister is of the opinion that the interposition, between the individual and the given partnership, of one or more other partnerships is part of an operation or transaction or of a series of operations or transactions, one of the purposes of which is to cause the eligible amount of a gift that is attributed to the individual under the first paragraph for a taxation year to be greater than the amount that would have been so attributed to the individual for that taxation year, but for that interposition.

1993, c. 64, s. 67; 1997, c. 3, s. 71; 2009, c. 5, s. 281; 2009, c. 15, s. 142.

2009-05-15

752.0.10.11. For the purposes of this chapter, where an individual is, at the end of a fiscal period of a partnership, a member of the partnership, the eligible amount of a gift made in the name of the partnership is deemed to be the eligible amount of a gift made by the individual in the individual’s taxation year in which the fiscal period of the partnership ends, up to the proportion of his share in that partnership.

1993, c. 64, s. 67; 1997, c. 3, s. 71; 2009, c. 5, s. 281.

2006-03-01

752.0.10.11. For the purposes of this chapter, where an individual is, at the end of a fiscal period of a partnership, a member of the partnership, any gift made in the name of the partnership is deemed to be a gift made by the individual in the individual’s taxation year in which the fiscal period of the partnership ends, up to the proportion of his share in that partnership.

1993, c. 64, s. 67; 1997, c. 3, s. 71.