I-3 - Taxation Act

Section 776.1.5.0.4 Disposition versions

2017-02-08

776.1.5.0.4. If an individual dies at a particular time in a taxation year, replacement shares must be acquired, in the year or within 60 days after the end of the year, for an amount equal to the amount by which the aggregate of all amounts each of which is an eligible amount of the individual received by the individual in the year or a preceding taxation year exceeds the aggregate of all amounts each of which is

(a)  an amount paid by the individual under section 776.1.5.0.2 on the acquisition of replacement shares before the particular time;

(b)  100/15 of an amount that the individual is required to pay under section 1086.14 for a taxation year that ended before the particular time in respect of replacement shares that were not acquired by the individual and that relate to original shares other than original shares described in paragraph c or d;

(c)  400% of an amount that the individual is required to pay under section 1086.14 for a taxation year that ended before the particular time in respect of replacement shares that were not acquired by the individual and that relate to original shares referred to in paragraph b of section 776.1.1 and acquired by the individual in the period specified in the second paragraph of section 776.1.1.1; or

(d)  500% of an amount that the individual is required to pay under section 1086.14 for a taxation year that ended before the particular time in respect of replacement shares that were not acquired by the individual and that relate to original shares referred to in paragraph b of section 776.1.1 and acquired by the individual in the period specified in the second paragraph of section 776.1.1.2.

2001, c. 53, s. 144; 2003, c. 2, s. 240; 2005, c. 38, s. 191; 2011, c. 1, s. 43; 2017, c. 1, s. 227.

2011-02-17

776.1.5.0.4. If an individual dies at a particular time in a taxation year, replacement shares must be acquired, in the year or within 60 days after the end of the year, for an amount equal to the amount by which the aggregate of all amounts each of which is an eligible amount of the individual received by the individual in the year or a preceding taxation year exceeds the aggregate of all amounts each of which is

(a)  an amount paid by the individual under section 776.1.5.0.2 on the acquisition of replacement shares before the particular time;

(b)  100/15 of an amount that the individual is required to pay under section 1086.14 for a taxation year that ended before the particular time in respect of replacement shares that were not acquired by the individual and that relate to original shares other than original shares described in paragraph c; or

(c)  400% of an amount that the individual is required to pay under section 1086.14 for a taxation year that ended before the particular time in respect of replacement shares that were not acquired by the individual and that relate to original shares referred to in paragraph b of section 776.1.1 and acquired by the individual in the period specified in the second paragraph of section 776.1.1.1.

2001, c. 53, s. 144; 2003, c. 2, s. 240; 2005, c. 38, s. 191; 2011, c. 1, s. 43.

2006-03-01

776.1.5.0.4. Where an individual dies at a particular time in a taxation year, replacement shares shall be acquired, in the year or within 60 days after the end of the year, for an amount equal to the amount by which the aggregate of all amounts paid by the individual under section 776.1.5.0.2 on the acquisition of replacement shares before that time exceeds the aggregate of all amounts each of which is an eligible amount of the individual received by the individual in the year or a preceding taxation year.

2001, c. 53, s. 144; 2003, c. 2, s. 240; 2005, c. 38, s. 191.