I-3 - Taxation Act

Section 752.0.10.4 Disposition versions

2012-10-19

752.0.10.4. For the purposes of the definition of “total cultural gifts” in the first paragraph of section 752.0.10.1,

(a)  the fair market value of a cultural property described in subparagraph a of the third paragraph of section 232 is deemed to be the value determined by the Canadian Cultural Property Export Review Board or, where an appeal has been instituted under subsection 1 of section 33.1 of the Cultural Property Export and Import Act (R.S.C. 1985, c. C-51), the fair market value deemed to have been determined by the Board, for the purposes of the Income Tax Act (R.S.C. 1985, c. 1 (5th Suppl.)), under subsection 2 of that section 33.1; and

(b)  the fair market value of a cultural property described in subparagraph c of the third paragraph of section 232 is deemed to be the value determined by the Conseil du patrimoine culturel du Québec.

1993, c. 64, s. 67; 1997, c. 85, s. 126; 2003, c. 9, s. 79; 2005, c. 23, s. 95; 2011, c. 21, s. 232.

2006-03-01

752.0.10.4. For the purposes of the definition of “total cultural gifts” in the first paragraph of section 752.0.10.1,

(a)  the fair market value of a cultural property described in subparagraph a of the third paragraph of section 232 is deemed to be the value determined by the Canadian Cultural Property Export Review Board or, where an appeal has been instituted under subsection 1 of section 33.1 of the Cultural Property Export and Import Act (Revised Statutes of Canada, 1985, chapter C-51), the fair market value deemed to have been determined by the Board, for the purposes of the Income Tax Act (Revised Statutes of Canada, 1985, chapter 1, 5th Supplement), under subsection 2 of that section 33.1; and

(b)  the fair market value of a cultural property described in subparagraph c of the third paragraph of section 232 is deemed to be the value determined by the Commission des biens culturels du Québec.

1993, c. 64, s. 67; 1997, c. 85, s. 126; 2003, c. 9, s. 79; 2005, c. 23, s. 95.