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I-3 - Taxation Act

Section 565
Disposition versions

Full text
565. For the purposes of sections 93 to 104, 130 and 130.1 and of the regulations made under paragraph a of section 130, where the subsidiary distributes depreciable property to the parent on the winding-up and the capital cost of the property to the subsidiary exceeds the proceeds it is deemed to receive under section 557, the capital cost of the property to the parent is deemed equal to that to the subsidiary, notwithstanding section 559, and the excess is deemed to have been allowed to the parent as depreciation in respect of such property for the taxation years preceding its acquisition of the property.
1972, c. 23, s. 440; 1979, c. 18, s. 49; 1997, c. 3, s. 71.
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