I-3 - Taxation Act

Section 1003.2 Disposition versions

2009-06-04

1003.2. For the purposes of paragraph d of subsection 1 of section 1000 and paragraph b of section 1003.1, a disposition of a property by a taxpayer at any time in a taxation year is an excluded disposition if

(a)  the taxpayer is not resident in Canada at that time;

(b)  no tax is payable under this Part by the taxpayer for the taxation year;

(c)  the taxpayer is, at that time, not liable to pay an amount under this Act in respect of a previous taxation year (other than an amount for which the Minister has accepted, and holds, adequate security under Chapter IV.1 of Title III of this Part or under Title III of Part II); and

(d)  each taxable Québec property disposed of by the taxpayer in the taxation year is

i.  excluded property within the meaning of section 1102.4, or

ii.  a property in respect of the disposition of which the Minister has issued to the taxpayer a certificate under any of sections 1098, 1100 and 1102.1.

2009, c. 15, s. 183.