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I-3 - Taxation Act

Section 619
Disposition versions

Full text
619. Subject to sections 529 to 533 and 620 to 631, a partnership disposing, at a particular time after 1971, of property to a taxpayer who is, immediately before such time, one of its members, is deemed to have received therefrom proceeds equal to its fair market value at that time and the taxpayer is deemed to have acquired the property at that same value.
1972, c. 23, s. 465; 1975, c. 22, s. 171; 1997, c. 3, s. 71.
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