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I-3 - Taxation Act

Section 485.41
Disposition versions

Full text
485.41. Where, as a consequence of the disposition at any time by an individual or a partnership of a property that is a qualified farm or fishing property of the individual, within the meaning assigned by section 726.6, a qualified small business corporation share of the individual, within the meaning assigned by section 726.6.1, or a resource property of the individual or partnership, within the meaning assigned by section 726.20.1, the individual or partnership is deemed by section 485.35 to have a capital gain at that time from the disposition of another property, for the purposes of sections 28, 462.7 to 462.10 and 727 to 737, as they apply for the purposes of sections 726.6 to 726.20.4, the other property is deemed to be a qualified farm or fishing property or a qualified small business corporation share, as the case may be, of the individual, or a resource property of the individual or partnership, as the case may be.
1996, c. 39, s. 142; 1997, c. 3, s. 71; 2004, c. 21, s. 83; 2017, c. 29, s. 72.
485.41. Where, as a consequence of the disposition at any time by an individual or a partnership of a property that is a qualified farm property of the individual, within the meaning assigned by section 726.6, a qualified fishing property of the individual, within the meaning of that section, a qualified small business corporation share of the individual, within the meaning assigned by section 726.6.1, or a resource property of the individual or partnership, within the meaning assigned by section 726.20.1, the individual or partnership is deemed by section 485.35 to have a capital gain at that time from the disposition of another property, for the purposes of sections 28, 462.7 to 462.10 and 727 to 737, as they apply for the purposes of sections 726.6 to 726.20.4, the other property is deemed to be a qualified farm property, a qualified fishing property or a qualified small business corporation share, as the case may be, of the individual, or a resource property of the individual or partnership, as the case may be.
1996, c. 39, s. 142; 1997, c. 3, s. 71; 2004, c. 21, s. 83.
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