I-3 - Taxation Act

Section 613.1.1 Disposition versions

2021-06-02

613.1.1. Where the taxation year of a taxpayer ends after 26 February 2018, the following rules apply:

(a)  for the purposes of sections 727 to 737, the taxpayer’s non-capital loss, or limited partnership loss in respect of a partnership, for a preceding taxation year must be determined as if section 599.1 and subparagraph b of the first paragraph of section 613.1 applied in respect of a taxation year that ends before 27 February 2018; and

(b)  in computing the adjusted cost base of the taxpayer’s interest in a partnership after 26 February 2018, the taxpayer shall add an amount equal to the portion of the amount that, because of paragraph a, must reduce the taxpayer’s non-capital loss that can reasonably be considered to be attributable to the amount of a loss deducted under subparagraph i of paragraph l of section 257 in computing the adjusted cost base of that interest.

2021, c. 14, s. 52.