I-3 - Taxation Act

Section 1175.28.3 Disposition versions

2006-12-06

1175.28.3. For the purposes of this Part, the following rules apply:

(a)  the favourable advance ruling given in respect of a property for the purposes of any of Divisions II to II.6.15 of Chapter III.1 of Title III of Book IX of Part I is deemed to be revoked at a particular time if

i.  the favourable advance ruling ceases to be in force at that time and no certificate or qualification certificate is issued in respect of the property for the purposes of that division, or

ii.   the certificate or qualification certificate issued in respect of the property for the purposes of that division is revoked at that time; and

(b)  if the issue of a certificate or qualification certificate, in this paragraph referred to as the “initial document”, is a condition that must be met, directly or indirectly, to allow the issue of another certificate or qualification certificate, in this paragraph referred to as the “other document”, and the initial document is revoked without the other document being revoked at the same time, the other document, to the extent that it relates to a period for which the revocation is effective, is deemed, unless it is necessary to allow an individual, because the individual is an employee within the meaning of section 1, to deduct an amount in computing the individual’s taxable income for the purposes of Part I, to be revoked at the time the initial document is revoked and to be a document to which the same revocation notice applies.

2006, c. 36, s. 271.