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I-3 - Taxation Act

Section 83.0.4
Disposition versions

Full text
83.0.4. Where at a particular time a taxpayer not resident in Canada ceases to use, in relation to a business or part of a business carried on by the taxpayer in Canada immediately before that time, a property that was immediately before that time described in the inventory of the business or the part of the business, other than a property that was disposed of by the taxpayer at that time, the following rules apply:
(a)  the taxpayer is deemed to have disposed of the property immediately before that time for proceeds of disposition equal to its fair market value at that time; and
(b)  the taxpayer is deemed to have received those proceeds immediately before that time in the course of carrying on the business or the part of the business.
2004, c. 8, s. 17.
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