I-3 - Taxation Act

Section 450.9 Disposition versions

2019-06-19

450.9. For the purposes of sections 444 and 459 and subparagraph iv of subparagraph a.0.2 of the first paragraph of section 726.6, a property of an individual is, at a particular time, deemed to be used by the individual in a farming or fishing business carried on in Canada if, at that particular time, the property is being used, principally in the course of carrying on a farming or fishing business in Canada, by

(a)  a corporation, a share of the capital stock of which is a share of the capital stock of a family farm or fishing corporation of the individual or of the spouse, a child or the father or mother of the individual; or

(b)  a partnership, a partnership interest in which is an interest in a family farm or fishing partnership of the individual or of the spouse, a child or the father or mother of the individual.

1986, c. 15, s. 83; 1993, c. 16, s. 186; 1997, c. 3, s. 71; 2005, c. 1, s. 106; 2007, c. 12, s. 61; 2017, c. 29, s. 67; 2019, c. 14, s. 128.

2017-12-07

450.9. For the purposes of section 105, paragraph b of section 130, sections 444 and 459 and subparagraph iv of subparagraph a.0.2 of the first paragraph of section 726.6, a property of an individual is, at a particular time, deemed to be used by the individual in a farming or fishing business carried on in Canada if, at that particular time, the property is being used, principally in the course of carrying on a farming or fishing business in Canada, by

(a)  a corporation, a share of the capital stock of which is a share of the capital stock of a family farm or fishing corporation of the individual or of the spouse, a child or the father or mother of the individual; or

(b)  a partnership, a partnership interest in which is an interest in a family farm or fishing partnership of the individual or of the spouse, a child or the father or mother of the individual.

1986, c. 15, s. 83; 1993, c. 16, s. 186; 1997, c. 3, s. 71; 2005, c. 1, s. 106; 2007, c. 12, s. 61; 2017, c. 29, s. 67.

2007-11-07

450.9. For the purposes of section 105, paragraph b of section 130, sections 444 and 459, subparagraph iv of subparagraphs a and a.0.1 of the first paragraph of section 726.6, a property of an individual is, at a particular time, deemed to be used by the individual in a fishing or farming business carried on in Canada if, at that particular time, the property is being used, principally in the course of carrying on a fishing or farming business in Canada, by

(a)  a corporation, a share of the capital stock of which is a share of the capital stock of a family farm corporation, or a share of the capital stock of a family fishing corporation, of the individual or of the spouse, a child or the father or mother of the individual; or

(b)  a partnership, a partnership interest in which is an interest in a family farm partnership, or an interest in a family fishing partnership, of the individual or of the spouse, a child or the father or mother of the individual.

1986, c. 15, s. 83; 1993, c. 16, s. 186; 1997, c. 3, s. 71; 2005, c. 1, s. 106; 2007, c. 12, s. 61.

2006-03-01

450.9. For the purposes of section 105, paragraph b of section 130, sections 444 and 459, subparagraph iv of subparagraph a of the first paragraph of section 726.6 and the third paragraph of section 726.6, where at any time any property of an individual that is land, depreciable property of a prescribed class or incorporeal capital property, was used by a corporation a share of the capital stock of which is a share of the capital stock of a family farm corporation of the individual, the individual’s spouse or any of the individual’s children, or by a partnership an interest in which is an interest in a family farm partnership of the individual, the individual’s spouse or any of the individual’s children in the course of carrying on the business of farming in Canada, the property is deemed to have been used at that time by the individual in the business of farming.

1986, c. 15, s. 83; 1993, c. 16, s. 186; 1997, c. 3, s. 71; 2005, c. 1, s. 106.