I-3 - Taxation Act

Section 517.4 Disposition versions

2006-03-01

517.4. For the purposes of this chapter, where a share disposed of by a taxpayer was acquired by him before 1 January 1972, the adjusted cost base to the taxpayer of the share at any time is deemed to be equal to the aggregate of

(a)  the amount that would be its adjusted cost base to him if the Act respecting the application of the Taxation Act (chapter I-4) were read without reference to the first two paragraphs of section 68 or to section 72;

(b)  all amounts each of which is an amount received by the taxpayer after 31 December 1971 and before that time as a dividend on the share and in respect of which the corporation that paid the dividend has made an election under section 501 as it read in its application to a dividend that became payable before 1 January 1979.

1978, c. 26, s. 93; 1987, c. 67, s. 122; 1990, c. 59, s. 186; 1997, c. 3, s. 71.