I-3 - Taxation Act

Section 613.8 Disposition versions

2006-03-01

613.8. For the purposes of section 613.7, the following rules apply:

(a)  a partnership in respect of which paragraph b of section 613.7 applies shall be considered to have been actively carrying on a business on a regular and a continuous basis immediately before 26 February 1986 and continuously thereafter until the earlier of the closing date, if any, stipulated in the document referred to in paragraph b of section 613.7, and 1 January 1987; and

(b)  an expenditure shall not be considered to have been required to be made pursuant to the terms of an agreement where the obligation to make the expenditure is conditional in any way on the consequences under this Part relating to the expenditure and the condition has not been satisfied or waived before 12 June 1986.

1988, c. 4, s. 40; 1997, c. 3, s. 71.