I-3 - Taxation Act

Section 726.4.10.1 Disposition versions

2006-03-01

726.4.10.1. Where an expense referred to in subparagraph i of paragraph a of section 726.4.10 was incurred after 14 May 1992, the reference in the said paragraph a to “33 1/3%” shall, in respect of the expense, read as a reference to “25%”.

The first paragraph does not apply in respect of an expense

(a)  incurred pursuant to an agreement in writing referred to in section 359.1 that was entered into before 15 May 1992 in respect of the issue of a flow-through share, or

(b)  incurred, directly or indirectly, out of the proceeds of a public issue of shares or interests in a partnership in respect of which the receipt for the final prospectus or the exemption from filing a prospectus was granted before 15 May 1992.

1993, c. 19, s. 31; 1997, c. 3, s. 71.