I-3 - Taxation Act

Section 741.3 Disposition versions

2012-05-09

741.3. A qualified dividend is not to be included in the aggregate determined under subparagraph i of paragraph a of section 741.2 or paragraph b or c of that section where the taxpayer referred to in that section establishes that

(a)  it was received when the particular partnership referred to in section 741.2, the taxpayer and persons with whom the taxpayer was not dealing at arm’s length did not hold in total more than 5% of the issued shares of any class of the capital stock of the corporation from which the dividend was received; and

(b)  it was received on a share that the particular partnership referred to in section 741.2 held throughout the 365-day period that ended immediately before the disposition of the share by the particular partnership.

2001, c. 7, s. 90; 2012, c. 8, s. 101.

2006-03-01

741.3. A dividend shall not be included in the aggregate determined under subparagraph i of paragraph a of section 741.2 or paragraph b or c of that section where the taxpayer referred to in that section establishes that

(a)  it was received when the particular partnership referred to in section 741.2, the taxpayer and persons with whom the taxpayer was not dealing at arm’s length did not hold in total more than 5% of the issued shares of any class of the capital stock of the corporation from which the dividend was received; and

(b)  it was received on a share that the particular partnership referred to in section 741.2 held throughout the 365-day period that ended immediately before the disposition of the share by the particular partnership.

2001, c. 7, s. 90.