I-3 - Taxation Act

Section 58.0.2 Disposition versions

2011-12-09

58.0.2. (Repealed).

2003, c. 2, s. 23; 2009, c. 15, s. 42; 2010, c. 5, s. 18; 2011, c. 34, s. 23.

2010-04-20

58.0.2. For the purposes of section 58.0.1, a taxpayer’s acquisition of a security under an agreement made by a particular qualifying person is a qualifying acquisition if

(a)  the acquisition occurs after 27 February 2000;

(b)  the taxpayer would, but for section 58.0.1, be entitled to deduct an amount under section 725.2 in respect of the security in computing taxable income for the taxation year in which the security is acquired;

(c)  where the particular qualifying person is a corporation, the taxpayer was not, at the time immediately after the agreement was made, a person who would, if the references in section 21.17 to “in a taxation year” and “at any time in the year” were read as references to “at any time” and “at that time”, respectively, be a specified shareholder of any of

i.  the particular qualifying person,

ii.  any qualifying person that, at that time, was an employer of the taxpayer and was not dealing at arm’s length with the particular qualifying person, and

iii.  the qualifying person of which the taxpayer had, under the agreement, a right to acquire a security; and

(d)  where the security is a share, it is of a class of shares that, at the time the acquisition occurs, is listed on a designated stock exchange and, where rights under the agreement were acquired by the taxpayer as a result of one or more dispositions to which section 49.4 applied, none of the rights that were the subject of any of the dispositions included a right to acquire a share of the class of shares that, at the time the rights were disposed of, was not listed on

i.  a stock exchange referred to in section 21.11.20R1 of the preceding regulation, within the meaning of section 2000R1 of the Regulation respecting the Taxation Act (R.R.Q., c. I-3, r. 1), if the disposition occurred before 26 November 1999,

ii.  a Canadian stock exchange or a foreign stock exchange, if the disposition occurred after 25 November 1999 and before 14 December 2007, or

iii.  a designated stock exchange, if the disposition occurred after 13 December 2007.

2003, c. 2, s. 23; 2009, c. 15, s. 42; 2010, c. 5, s. 18.

2009-06-04

58.0.2. For the purposes of section 58.0.1, a taxpayer’s acquisition of a security under an agreement made by a particular qualifying person is a qualifying acquisition if

(a)  the acquisition occurs after 27 February 2000;

(b)  the taxpayer would, but for section 58.0.1, be entitled to deduct an amount under section 725.2 in respect of the security in computing taxable income for the taxation year in which the security is acquired;

(c)  where the particular qualifying person is a corporation, the taxpayer was not, at the time immediately after the agreement was made, a person who would, if the references in section 21.17 to “in a taxation year” and “at any time in the year” were read as references to “at any time” and “at that time”, respectively, be a specified shareholder of any of

i.  the particular qualifying person,

ii.  any qualifying person that, at that time, was an employer of the taxpayer and was not dealing at arm’s length with the particular qualifying person, and

iii.  the qualifying person of which the taxpayer had, under the agreement, a right to acquire a security; and

(d)  where the security is a share, it is of a class of shares that, at the time the acquisition occurs, is listed on a Canadian stock exchange or a foreign stock exchange and, where rights under the agreement were acquired by the taxpayer as a result of one or more dispositions to which section 49.4 applied, none of the rights that were the subject of any of the dispositions included a right to acquire a share of the class of shares that, at the time the rights were disposed of, was not listed on a Canadian stock exchange or a foreign stock exchange or listed on a stock exchange referred to in section 21.11.20R1 of the preceding regulation, within the meaning of section 2000R1 of the Regulation respecting the Taxation Act (R.R.Q., c. I-3, r. 1), if the disposition occurred before 26 November 1999.

2003, c. 2, s. 23; 2009, c. 15, s. 42.

2006-03-01

58.0.2. For the purposes of section 58.0.1, a taxpayer’s acquisition of a security under an agreement made by a particular qualifying person is a qualifying acquisition if

(a)  the acquisition occurs after 27 February 2000;

(b)  the taxpayer would, but for section 58.0.1, be entitled to deduct an amount under section 725.2 in respect of the security in computing taxable income for the taxation year in which the security is acquired;

(c)  where the particular qualifying person is a corporation, the taxpayer was not, at the time immediately after the agreement was made, a person who would, if the references in section 21.17 to “in a taxation year” and “at any time in the year” were read as references to “at any time” and “at that time”, respectively, be a specified shareholder of any of

i.  the particular qualifying person,

ii.  any qualifying person that, at that time, was an employer of the taxpayer and was not dealing at arm’s length with the particular qualifying person, and

iii.  the qualifying person of which the taxpayer had, under the agreement, a right to acquire a security; and

(d)  where the security is a share, it is of a class of shares that, at the time the acquisition occurs, is listed on a Canadian stock exchange or a foreign stock exchange and, where rights under the agreement were acquired by the taxpayer as a result of one or more dispositions to which section 49.4 applied, none of the rights that were the subject of any of the dispositions included a right to acquire a share of the class of shares that, at the time the rights were disposed of, was not listed on a Canadian stock exchange or a foreign stock exchange or listed on a stock exchange referred to in section 21.11.20R1 of the Regulation respecting the Taxation Act (R.R.Q., 1981, chapter I-3, r.1) if the disposition occurred before 26 November 1999.

2003, c. 2, s. 23.