I-3 - Taxation Act

Section 1079.8.6 Disposition versions

2017-02-08

1079.8.6. A taxpayer who carries out a confidential transaction or who is a member of a partnership that carries out such a transaction shall, in an information return filed in accordance with section 1079.8.9 and within the time limit provided for in section 1079.8.10, disclose the transaction to the Minister if, but for Title I of Book XI, the transaction would result, directly or indirectly,

(a)  in a tax benefit of $25,000 or more for the taxpayer, or in an impact on the income of the taxpayer of $100,000 or more, for a taxation year; or

(b)  in an impact on the income of the partnership of $100,000 or more for a fiscal period.

Despite the first paragraph, the obligation to disclose provided for in that paragraph applies, in the case of a limited partnership, to all of its general partners and to them only.

2010, c. 25, s. 189; 2017, c. 1, s. 356.

2010-10-27

1079.8.6. A taxpayer who carries out a confidential transaction in a taxation year or who is a member of a partnership that carries out such a transaction in a fiscal period shall, in an information return filed in accordance with section 1079.8.9 and within the time limit provided for in section 1079.8.10, disclose the transaction to the Minister for the taxation year or fiscal period, as the case may be, if, but for Title I of Book XI, the transaction would result, directly or indirectly,

(a)  where the transaction is carried out by the taxpayer, in a tax benefit of $25,000 or more for the taxpayer, or in an impact on the income of the taxpayer of $100,000 or more, for the year; or

(b)  where the transaction is carried out by the partnership, in an impact on the income of the partnership of $100,000 or more for the fiscal period.

Despite the first paragraph, the obligation to disclose provided for in that paragraph applies, in the case of a limited partnership, to all of its general partners and to them only.

2010, c. 25, s. 189.