I-3 - Taxation Act

Section 752.0.10.4.0.1.1 Disposition versions

2017-12-07

752.0.10.4.0.1.1. Despite section 752.0.10.4.0.1, for the purposes of paragraph a of section 422, subparagraph ii of paragraph c of that section, section 436 and this chapter, where the Minister of Culture and Communications determines an amount to be the fair market value of a property that is the subject of a gift made by an individual on or before the day that is two years after the time that amount is determined and referred to in the definition of “total charitable gifts” in the first paragraph of section 752.0.10.1, the following rules apply:

(a)  the amount so determined is deemed to be the fair market value of the property at the time of the gift or, for the purposes of sections 752.0.10.12 and 752.0.10.14, its fair market value otherwise determined at that time; and

(b)  subject to sections 752.0.10.12 and 752.0.10.14, the amount so determined is deemed to be the individual’s proceeds of disposition of the property.

2015, c. 21, s. 283; 2017, c. 29, s. 136.

2015-10-21

752.0.10.4.0.1.1. Despite section 752.0.10.4.0.1, for the purposes of paragraph a of section 422, subparagraph ii of paragraph c of that section, section 436 and this chapter, where the Minister of Culture and Communications determines an amount to be the fair market value of a property that is the subject of a gift made by an individual on or before the day that is two years after the time that amount is determined and referred to in the definition of “total charitable gifts” in the first paragraph of section 752.0.10.1, the following rules apply:

(a)  the amount so determined is deemed to be the fair market value of the property at the time of the gift or, for the purposes of sections 752.0.10.12 and 752.0.10.13, its fair market value otherwise determined at that time; and

(b)  subject to sections 752.0.10.12 and 752.0.10.13, the amount so determined is deemed to be the individual’s proceeds of disposition of the property.

2015, c. 21, s. 283.