I-3 - Taxation Act

Section 462.6.1 Disposition versions

2009-05-15

462.6.1. Section 462.5 does not apply to a disposition of property made under subparagraph b of the first paragraph of section 785.2 at a particular time by a taxpayer who is a recipient referred to in section 462.5, unless the recipient and the individual referred to in section 462.5 make a valid election under subsection 3 of section 74.2 of the Income Tax Act (R.S.C. 1985, c. 1 (5th Suppl.)) after 19 December 2006 in relation to the disposition.

Chapter V.2 of Title II of Book I applies in relation to an election made under subsection 3 of section 74.2 of the Income Tax Act or in relation to an election made under this section before 20 December 2006.

2004, c. 8, s. 97; 2009, c. 5, s. 155.

2006-03-01

462.6.1. Section 462.5 does not apply to a disposition of property at any particular time, in this section referred to as the “emigration disposition”, to which paragraph b of section 785.2 applies, by a taxpayer who is a recipient referred to in section 462.5, unless the recipient and the individual referred to in section 462.5, in their fiscal returns for the taxation year that includes the first time, after the particular time, at which the recipient disposes of the property, jointly elect that section 462.5 apply to the emigration disposition.

2004, c. 8, s. 97.