I-3 - Taxation Act

Section 359.2.5 Disposition versions

2009-06-04

359.2.5. For the purpose of determining the paid-up capital amount at a particular time under section 359.2.3 of a corporation and for the purposes of section 359.2.4, a particular corporation’s paid-up capital for a taxation year is its paid-up capital that would be determined for the year in accordance with Title I of Book III of Part IV if no reference were made to section 1138.2.6 and to the portion of the amount that the corporation may deduct under section 1138 that is attributable to shares of the capital stock of, or indebtedness of, another corporation that

(a)  was not associated with the particular corporation at the particular time; and

(b)  was associated with the particular corporation at the end of the particular corporation’s last taxation year that ended more than 30 days before that time.

1998, c. 16, s. 124; 2009, c. 15, s. 82.

2006-03-01

359.2.5. For the purpose of determining the paid-up capital amount at a particular time under section 359.2.3 of a corporation and for the purposes of section 359.2.4, a particular corporation’s paid-up capital for a taxation year is its paid-up capital that would be determined for the year in accordance with Title I of Book III of Part IV if no account was taken of the portion of the amount that the corporation may deduct under section 1138 that is attributable to shares of the capital stock of, or indebtedness of, another corporation that

(a)  was not associated with the particular corporation at the particular time; and

(b)  was associated with the particular corporation at the end of the particular corporation’s last taxation year that ended more than 30 days before that time.

1998, c. 16, s. 124.