I-3 - Taxation Act

Section 1019 Disposition versions

2006-03-01

1019. Where, at the end of a taxpayer’s taxation year, the person beneficially entitled to an amount received by the taxpayer after 1984 and before the taxation year as dividends, interest or proceeds of disposition of property is unknown to the taxpayer, the taxpayer shall pay to the Minister, on or before the sixtieth day after the end of the taxation year, on account of the tax payable by that person, an amount equal to 15% of the amount received as dividends or interest and 15% of the amount, if any, by which the proceeds of disposition of property exceed the aggregate of any expenses made or incurred by the taxpayer for the purpose of disposing of the property, to the extent that such expenses were not deducted in computing the taxpayer’s income for any taxation year or attributable to any other property.

1972, c. 23, s. 747; 1989, c. 77, s. 99.