I-3 - Taxation Act

Section 475 Disposition versions

2009-05-15

475. For the purposes of Title IV and the first paragraph of section 471, and in applying sections 472 and 474 for those purposes, if two or more indemnities described in section 469 have been issued at the same time in respect of the same foreign property and acquired by a taxpayer who makes a valid election under subsection 9 of section 80.1 of the Income Tax Act (R.S.C. 1985, c. 1 (5th Suppl.)) after 19 December 2006 in respect of all such indemnities, the latter are deemed to constitute a single indemnity so issued and acquired.

Chapter V.2 of Title II of Book I applies in relation to an election made under subsection 9 of section 80.1 of the Income Tax Act or in relation to an election made under this section before 20 December 2006.

1973, c. 17, s. 53; 2009, c. 5, s. 163.

2006-03-01

475. For the purposes of Title IV and section 471 and in applying sections 472 and 474 for those purposes, where two or more indemnities described in section 469 have been issued at the same time with respect to the same foreign property and acquired by a taxpayer who subsequently makes the election thereof, in the form and within the delay prescribed with respect to all such indemnities, the latter are deemed to constitute a single indemnity so issued and acquired.

1973, c. 17, s. 53.