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I-3 - Taxation Act
Section 851.48
Disposition versions
851.48. For the purposes of this Title, the unpaid principal of an indebtedness that relates to a taxpayer’s expenditure or gift is deemed to be a limited-recourse amount relating to the expenditure or gift, if it may reasonably be considered that information relating to the indebtedness is available outside Canada and the Minister is not satisfied that the unpaid principal of the indebtedness is not a limited-recourse amount unless
(a) the information is provided to the Minister; or
(b) the information is located in a country with which the Government of Québec has entered into a tax agreement that has force of law in Québec and includes a provision under which the Minister can obtain the information.
851.48. For the purposes of this Title, the unpaid principal of an indebtedness that relates to a taxpayer’s expenditure is deemed to be a limited-recourse amount relating to the expenditure, where it may reasonably be considered that information relating to the indebtedness is available outside Canada and the Minister is not satisfied that the unpaid principal of the indebtedness is not a limited-recourse amount unless
(a) the information is provided to the Minister; or
(b) the information is located in a country with which the Government of Québec has entered into a tax agreement that has force of law in Québec and includes a provision under which the Minister can obtain the information.
