I-3 - Taxation Act

Section 462.16 Disposition versions

2009-05-15

462.16. Section 462.1 does not apply in respect of any income or loss from a property that is attributable to the period throughout which the persons referred to in that section lived separate and apart from each other because of a breakdown of their marriage, and sections 462.5 and 462.6 do not apply in respect of a disposition of property that occurs at any time while the persons referred to in those sections are living separate and apart from each other because of a breakdown of their marriage if the individual and the individual’s spouse make a valid election under paragraph b of subsection 3 of section 74.5 of the Income Tax Act (R.S.C. 1985, c. 1 (5th Suppl.)) after 19 December 2006 in relation to the disposition.

Chapter V.2 of Title II of Book I applies in relation to an election made under paragraph b of subsection 3 of section 74.5 of the Income Tax Act or in relation to an election made under this section before 20 December 2006.

1987, c. 67, s. 112; 1993, c. 16, s. 192; 1996, c. 39, s. 131; 2009, c. 5, s. 158.

2006-03-01

462.16. Section 462.1 does not apply with respect to any income or loss from property that relates to the period throughout which the persons referred to therein are living separate and apart from each other by reason of a breakdown of their marriage, and sections 462.5 and 462.6 do not apply with respect to a disposition of property occurring at any time while the persons referred to therein are living separate and apart from each other by reason of a breakdown of their marriage if the individual files with his fiscal return under section 1000 for the taxation year that includes that time or for any preceding taxation year an election to that effect completed jointly with his spouse.

1987, c. 67, s. 112; 1993, c. 16, s. 192; 1996, c. 39, s. 131.