I-3 - Taxation Act

Section 710.0.0.1 Disposition versions

2019-06-19

710.0.0.1. (Repealed).

2009, c. 15, s. 106; 2019, c. 14, s. 181.

2009-06-04

710.0.0.1. For the purposes of paragraph a.1 of section 710, an eligible medical gift of a corporation means a gift the eligible amount of which is included in the aggregate described in paragraph a of section 710, if

(a)  the corporation has directed the donee to apply the gift to charitable activities outside Canada;

(b)  the property that is the subject of the gift is a medicine that is available for the donee’s use at least six months prior to its expiration date, within the meaning of the Food and Drug Regulations (C.R.C., c. 870) made under the Food and Drugs Act (R.S.C. 1985, c. F-27);

(c)  the property qualifies as a drug, within the meaning of the Food and Drugs Act, and the drug

i.  meets the requirements of the Food and Drugs Act, or would meet those requirements if that Act were read without reference to subsection 1 of its section 37,

ii.  is not a food, cosmetic or device (as those terms are defined in the Food and Drugs Act), a natural health product (as defined in the Natural Health Products Regulations (SOR/2003-196) made under the Food and Drugs Act) or a veterinary drug;

(d)  the property that is the subject of the gift was, immediately before the making of the gift, described in an inventory in respect of a business of the corporation; and

(e)  the donee is a registered charity described in paragraph e of subsection 8 of section 110.1 of the Income Tax Act (R.S.C. 1985, c. 1 (5th Suppl.)).

2009, c. 15, s. 106.