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I-3 - Taxation Act

Section 629
Disposition versions

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629. The amount designated under section 628 shall not exceed the excess of the fair market value of the property concerned, immediately after the particular time, over its cost amount to the partnership immediately before that time.
Likewise, the aggregate of such designated amounts shall not exceed, in the case of non-depreciable capital property, the excess contemplated in section 628.
1972, c. 23, s. 475; 1973, c. 17, s. 69; 1988, c. 18, s. 54; 1997, c. 3, s. 71; 2019, c. 14, s. 167.
629. The amount designated under paragraph a of section 628 shall not exceed the excess of the fair market value of the property concerned, immediately after the particular time, over its cost amount to the partnership immediately before that time.
Likewise, the aggregate of such designated amounts shall not exceed, in the case of non-depreciable capital property, the excess contemplated in section 628.
1972, c. 23, s. 475; 1973, c. 17, s. 69; 1988, c. 18, s. 54; 1997, c. 3, s. 71.
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