I-3 - Taxation Act

Section 251.4 Disposition versions

2019-06-19

251.4. An individual’s share otherwise determined for a taxation year of a taxable capital gain of a partnership from the disposition of a property, other than property acquired by the partnership after 22 February 1994 in a transfer to which the second paragraph of section 614 applied, for its fiscal period that ends in the year and after 22 February 1994 shall be reduced by such amount as the individual claims, not exceeding the amount by which 1/2 of the individual’s exempt capital gains balance for the year in respect of the partnership exceeds the aggregate of all amounts claimed by the individual under this section in respect of other taxable capital gains of the partnership for that fiscal period.

1996, c. 39, s. 69; 1997, c. 3, s. 71; 2003, c. 2, s. 82; 2019, c. 14, s. 100.

2006-03-01

251.4. An individual’s share otherwise determined for a taxation year of a taxable capital gain of a partnership from the disposition of a property, other than property acquired by the partnership after 22 February 1994 in a transfer to which the second paragraph of section 614 applied, for its fiscal period that ends in the year and after 22 February 1994 shall be reduced by such amount as the individual claims, not exceeding the amount by which, subject to section 251.5.1, 1/2 of the individual’s exempt capital gains balance for the year in respect of the partnership exceeds the aggregate of all amounts claimed by the individual under this section in respect of other taxable capital gains of the partnership for that fiscal period.

1996, c. 39, s. 69; 1997, c. 3, s. 71; 2003, c. 2, s. 82.