I-3 - Taxation Act

Section 274.3 Disposition versions

2006-03-01

274.3. Where an election was made under section 726.9.2 in respect of a property of a taxpayer that was the taxpayer’s principal residence for the taxation year 1994 or that, in the taxpayer’s fiscal return for the taxation year in which the taxpayer disposes of the property or grants an option to acquire the property, is designated as the taxpayer’s principal residence, in determining, for the purposes of sections 271, 272, 274.1 and 274.2, the day on which the property was last acquired by the taxpayer and the period throughout which the property was owned by the taxpayer this Act shall be read without reference to section 726.9.2.

1996, c. 39, s. 86.