I-3 - Taxation Act

Section 450.10 Disposition versions

2006-03-01

450.10. For the purposes of Divisions I to III and, where a provision of either of those divisions, other than this section, applies, for the purposes of sections 93 to 104 and Chapter III of Title III, but not for the purposes of any regulations made under paragraph a of section 130, the capital cost to an individual, or to a trust to which section 450 applies, of depreciable property of a prescribed class disposed of immediately before the death of the individual or, as the case may be, of the spouse referred to in that section 450, shall, in respect of property that was not disposed of by the individual or the trust before that time, be the amount that it would be, if

(a)  paragraph b of section 99 were read without reference to “the lesser of the following amounts” in the portion before subparagraph i thereof and without reference to subparagraph ii thereof;

(b)  subparagraph i of paragraph d of section 99 were read as follows:

“i. where the proportion of the use made of the property to gain income has increased at a particular time, the taxpayer is deemed to have acquired at that time depreciable property of that class at a capital cost equal to the proportion of the fair market value of the property at that time that the amount of the increase in the use regularly made by the taxpayer of the property to gain income is of the whole of the use regularly made of the property;” and

(c)  section 99 were read without reference to paragraph d.1 thereof.

1995, c. 49, s. 130; 1998, c. 16, s. 166.