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I-3 - Taxation Act
Section 259.3
Disposition versions
259.3. Where a capital property that is a specified property is acquired by a new corporate entity, in this section referred to as the “new corporation”, at any time as a result of the amalgamation or merger of two or more corporations, each of which is referred to in this section as a “predecessor corporation”,
(a) the new corporation shall deduct after that time in computing the adjusted cost base to the new corporation of the capital property the aggregate of all amounts deducted under paragraph b.1 of section 257 in computing, immediately before that time, the adjusted cost base to a predecessor corporation of the property, unless those amounts are otherwise deducted under that paragraph b.1 in computing the adjusted cost base to the new corporation of the capital property; and
(b) the new corporation shall add after that time, in computing the adjusted cost base to the new corporation of the capital property, the amount deducted under paragraph a in respect of the acquisition.
