I-3 - Taxation Act

Section 419 Disposition versions

2020-09-24

419. Any share of the capital stock of a corporation, or any right in or to such a share, acquired by a taxpayer under circumstances described in paragraph e of section 395 or 408, or in paragraph c of section 418.2 is deemed,

(a)  if it was acquired before 13 November 1981, not to be a capital property of the taxpayer but, subject to section 851.22.25, to be inventory of the taxpayer acquired at a cost to him of nil; and

(b)  if it was acquired after 12 November 1981, to have been acquired by the taxpayer at a cost to him of nil.

1977, c. 26, s. 48; 1982, c. 5, s. 104; 1984, c. 15, s. 92; 1996, c. 39, s. 123; 1997, c. 3, s. 71; 2020, c. 16, s. 189.

2006-03-01

419. Any share of the capital stock of a corporation or any interest in any such shares or right thereto acquired by a taxpayer under circumstances described in paragraph e of section 395 or 408, or in paragraph c of section 418.2 is deemed,

(a)  if it was acquired before 13 November 1981, not to be a capital property of the taxpayer but, subject to section 851.22.25, to be inventory of the taxpayer acquired at a cost to him of nil; and

(b)  if it was acquired after 12 November 1981, to have been acquired by the taxpayer at a cost to him of nil.

1977, c. 26, s. 48; 1982, c. 5, s. 104; 1984, c. 15, s. 92; 1996, c. 39, s. 123; 1997, c. 3, s. 71.