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I-3 - Taxation Act

Section 578.6
Disposition versions

Full text
578.6. For the purpose of determining the value of property described in the inventory of a taxpayer’s business, the following rules apply:
(a)  the distribution to the taxpayer of a spin-off share that is property described in the inventory, in respect of an eligible distribution, is deemed not to be an acquisition of property in the fiscal period of the business in which the distribution occurs; and
(b)  the value of the spin-off share must be included in computing the value of the property described in the inventory at the end of that fiscal period.
2004, c. 8, s. 116.
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