I-3 - Taxation Act

Section 1029.8.16.3 Disposition versions

2010-10-27

1029.8.16.3. (Repealed).

2006, c. 36, s. 206; 2010, c. 25, s. 122.

2006-03-01

1029.8.16.3. For the purposes of this division, the following rules apply to a corporation, in this section referred to as the “new corporation”, resulting from the amalgamation, within the meaning of section 544, of two or more corporations, each of which is referred to in this section as a “predecessor corporation” :

(a)  if the new corporation has fewer than three taxation years that end before a particular taxation year, its base period, for the particular taxation year, is deemed to be the period commencing on the day that is the earliest of all days each of which is the commencement of a taxation year of a predecessor corporation that is within the three-year period ending immediately before the particular taxation year, and ending immediately before the particular taxation year; and

(b)  the new corporation shall include, in computing its eligible amount for its base period, the eligible amount of each predecessor corporation for any taxation year that commenced in that base period.

For the purposes of this section, a predecessor corporation includes any corporation in respect of which the predecessor corporation was a new corporation.

2000, c. 39, s. 128.