I-3 - Taxation Act

Section 569.0.0.2 Disposition versions

2015-10-21

569.0.0.2. For the purposes of subparagraph a of the second paragraph of section 569, net distribution amount in respect of a distribution of distributed property means the amount determined by the formula

A-B.

In the formula in the first paragraph,

(a)  A is the cost to the taxpayer of the distributed property as determined under subparagraph c of the first paragraph of section 569; and

(b)  B is the aggregate of all amounts each of which is an amount owing (other than an unpaid dividend) by, or an obligation of, the disposing affiliate that was assumed or cancelled by the taxpayer in consideration for the distribution of the distributed property.

2015, c. 21, s. 188.