I-3 - Taxation Act

Section 50.1 Disposition versions

2011-12-09

50.1. An employee who transfers or disposes of rights under the agreement referred to in section 48 in respect of some or all of the securities to the particular qualifying person (or a qualifying person with which the particular qualifying person is not dealing at arm’s length) with which the employee is not dealing at arm’s length is deemed to receive, because of the employee’s office or employment, in the taxation year in which the employee makes the transfer or disposition, a benefit equal to the amount by which the value of the consideration for the transfer or disposition exceeds the amount paid by the employee to acquire those rights.

2011, c. 34, s. 20.