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I-3 - Taxation Act

Section 771.2.1.4
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771.2.1.4. Despite the first paragraph of section 771.2.1.3, if a Canadian-controlled private corporation is associated with one or more other Canadian-controlled private corporations and all of those corporations have filed with the Minister in prescribed form an agreement whereby, for the purposes of this Title, they allocate a percentage to one or more of them for the year, the business limit for the year of each of the corporations is equal to the product obtained by multiplying $500,000 by the percentage so allocated to it, if the percentage or the aggregate of the percentages so allocated, as the case may be, does not exceed 100%, and to zero, in any other case.
2005, c. 38, s. 173; 2010, c. 5, s. 69.
771.2.1.4. Despite the first paragraph of section 771.2.1.3, if a Canadian-controlled private corporation is associated with one or more other Canadian-controlled private corporations and all of those corporations have filed with the Minister in prescribed form an agreement whereby, for the purposes of this Title, they allocate an amount to one or more of them for the year and the amount so allocated or the aggregate of the amounts so allocated, as the case may be, is equal to $400,000, the business limit for the year of each of the corporations is equal to the amount so allocated to it.
2005, c. 38, s. 173.
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