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I-3 - Taxation Act

Section 851.46
Disposition versions

Full text
851.46. Sections 851.42 and 851.43 do not apply to an indebtedness the principal of which is repaid by a taxpayer not later than 60 days after the indebtedness was incurred and that would otherwise be considered to be a limited-recourse amount solely because of the application of any of those sections unless
(a)  any portion of the repayment is made with a limited-recourse amount; or
(b)  the repayment may reasonably be considered to be part of a series of indebtedness and repayments that ends more than 60 days after the indebtedness was incurred.
2001, c. 7, s. 132.
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