I-3 - Taxation Act

Section 600.0.3 Disposition versions

2022-06-08

600.0.3. Despite sections 231 and 600, where, in a particular taxation year of a taxpayer, the taxpayer is a member of a partnership with a fiscal period that ends in the particular year, the taxable capital gain, allowable capital loss or allowable business investment loss of the taxpayer for the particular year in respect of the partnership is determined by the formula

A × B / C.

In the formula provided for in the first paragraph,

(a)  A is the taxpayer’s taxable capital gain, allowable capital loss or allowable business investment loss, as the case may be, for the particular year in respect of the partnership that would, but for this section, be determined under section 600;

(b)  B is the fraction that applies under section 231 for the particular year in respect of the taxpayer; and

(c)  C is the fraction that is used under section 231 for the fiscal period of the partnership.

1990, c. 59, s. 212; 1997, c. 3, s. 71; 2003, c. 2, s. 137; 2004, c. 8, s. 126; 2019, c. 14, s. 159; 2022, c. 23, s. 36.

2019-06-19

600.0.3. Despite sections 231, 231.2 and 600, where, in a particular taxation year of a taxpayer, the taxpayer is a member of a partnership with a fiscal period that ends in the particular year, the taxable capital gain, allowable capital loss or allowable business investment loss of the taxpayer for the particular year in respect of the partnership is determined by the formula

A × B / C.

In the formula provided for in the first paragraph,

(a)  A is the taxpayer’s taxable capital gain, allowable capital loss or allowable business investment loss, as the case may be, for the particular year in respect of the partnership that would, but for this section, be determined under section 600;

(b)  B is the fraction that applies under section 231 or 231.2, as the case may be, for the particular year in respect of the taxpayer; and

(c)  C is the fraction that is used under any of sections 231 and 231.2 for the fiscal period of the partnership.

1990, c. 59, s. 212; 1997, c. 3, s. 71; 2003, c. 2, s. 137; 2004, c. 8, s. 126; 2019, c. 14, s. 159.

2006-03-01

600.0.3. Notwithstanding sections 231, 231.2 and 600, where, in a particular taxation year of a taxpayer, the taxpayer is a member of a partnership with a fiscal period that ends in the particular year, the taxable capital gain, other than that part of the gain that can reasonably be attributed to an amount deemed under section 105.3 to be a taxable capital gain of the partnership, allowable capital loss or allowable business investment loss of the taxpayer for the particular year in respect of the partnership is determined by the formula

A × B / C.

In the formula provided for in the first paragraph,

(a)  A is the taxpayer’s taxable capital gain, other than that part of the gain that can reasonably be attributed to an amount deemed under section 105.3 to be a taxable capital gain of the partnership, allowable capital loss or allowable business investment loss, as the case may be, for the particular year, in respect of the partnership that would, but for this section, be determined under section 600;

(b)  B is the fraction that applies under section 231 or 231.2, as the case may be, for the particular year in respect of the taxpayer; and

(c)  C is the fraction that is used under any of sections 231 and 231.2 for the fiscal period of the partnership.

1990, c. 59, s. 212; 1997, c. 3, s. 71; 2003, c. 2, s. 137; 2004, c. 8, s. 126.