I-3 - Taxation Act

Section 113.2 Disposition versions

2017-12-07

113.2. Where an election referred to in subparagraph d of the first paragraph of section 113.1 is, as a consequence of the application of subsection 2.12 of section 15 of the Income Tax Act (R.S.C. 1985, c. 1 (5th Suppl.)), deemed to have been made on or before the date on which it had to be made, the Canadian corporation that is one of the electors incurs a penalty of $100 for each month or part of a month during the period beginning on that date and ending on the day on which the election was actually made.

2017, c. 29, s. 36.