I-3 - Taxation Act

Section 965.6 Disposition versions

2017-12-07

965.6. (Repealed).

1979, c. 14, s. 4; 1981, c. 31, s. 213; 1982, c. 48, s. 344; 1983, c. 44, s. 37; 1984, c. 15, s. 214; 1986, c. 15, s. 137; 1988, c. 4, s. 86; 1989, c. 5, s. 163; 1990, c. 7, s. 89; 1992, c. 1, s. 92; 1993, c. 19, s. 76; 1993, c. 64, s. 102; 1997, c. 3, s. 71; 1997, c. 85, s. 205; 1999, c. 83, s. 127; 2000, c. 39, s. 107; 2003, c. 9, s. 130; 2017, c. 29, s. 166.

2006-03-01

965.6. The adjusted cost of a share for an individual, an investment group or an investment fund, hereinafter called “purchaser”, is obtained by multiplying the cost of the share for the purchaser, determined without taking into account the borrowing costs, brokerage or custody fees or other similar costs related to the share, by

(a)  (paragraph repealed);

(a.1)  (paragraph repealed);

(a.2)  (paragraph repealed);

(a.3)  (paragraph repealed);

(b)  (paragraph repealed);

(b.1)  125% in the case of a qualifying share of a corporation described in section 965.11.7.1 that is acquired by the purchaser and issued before 15 May 1992 as part of a public share issue in respect of which the receipt for the final prospectus or the exemption from filing a prospectus was granted after 11 November 1986, and 150% in the case of such a share that is issued after 14 May 1992, other than a share referred to in paragraph b.1.1 or b.2;

(b.1.1)  75% in the case of a qualifying share of a corporation described in section 965.11.7.1 that is

i.  a preferred share that meets the requirements of paragraph b of section 965.9.1.0.4.2 and is issued as part of a public share issue in respect of which the receipt for the final prospectus or, where applicable, the exemption from filing a prospectus is granted after 3 July 1997, or

ii.  a common share that meets the requirements of paragraph a of section 965.9.1.0.4.2 and is acquired as a result of the exercise of a conversion right conferred on the holder of a qualifying share that is a preferred share referred to in subparagraph i;

(b.2)  75% in the case of a qualifying share of a corporation described in section 965.11.7.1 that is

i.  a preferred share that meets the requirements of paragraph b of section 965.9.1.0.5 and is issued as part of a public share issue in respect of which the receipt for the final prospectus or, where applicable, the exemption from filing a prospectus is granted after 25 March 1997, or

ii.  a common share with voting rights acquired as a result of the exercise of a conversion right conferred on the holder of a qualifying share that is a preferred share referred to in subparagraph i;

(c)  (paragraph repealed);

(c.1)  (paragraph repealed);

(c.2)  (paragraph repealed);

(c.3)  (paragraph repealed);

(c.4)  (paragraph repealed);

(c.5)  (paragraph repealed);

(c.6)  (paragraph repealed);

(c.7)  75% in the case of a qualifying share that is a common share with voting rights issued by a corporation, other than a growth corporation, whose assets are under $350,000,000 and that is not a share referred to in paragraph b.1 or b.2 or in paragraph c.8;

(c.8)  0% in the case of a qualifying share that is a common share with voting rights issued by a corporation whose assets are $350,000,000 or more, where the share is issued otherwise than under an exemption from filing a prospectus granted before 21 May 1993 under any of subparagraphs 2, 3 and 5 of the first paragraph of section  52 of the Securities Act (chapter V-1.1) and is acquired after 20 May 1993 as a result of the exercise of a right to subscribe a share conferred as part of a public share issue in respect of which the receipt for the final prospectus or the exemption from filing a prospectus was granted after 1 May 1986, or the exercise of a conversion right conferred on the holder of a convertible security issued as part of a convertible security issue;

(c.9)  50% in the case of a qualifying share that is a common share with voting rights issued by a growth corporation as a result of the exercise of a conversion right conferred on the holder of a qualifying non-guaranteed convertible security issued as part of a non-guaranteed convertible security issue in respect of which the receipt for the final prospectus is granted after 25 March 1997;

(d)  100% in the case of any other qualifying share.

1979, c. 14, s. 4; 1981, c. 31, s. 213; 1982, c. 48, s. 344; 1983, c. 44, s. 37; 1984, c. 15, s. 214; 1986, c. 15, s. 137; 1988, c. 4, s. 86; 1989, c. 5, s. 163; 1990, c. 7, s. 89; 1992, c. 1, s. 92; 1993, c. 19, s. 76; 1993, c. 64, s. 102; 1997, c. 3, s. 71; 1997, c. 85, s. 205; 1999, c. 83, s. 127; 2000, c. 39, s. 107; 2003, c. 9, s. 130.