I-3 - Taxation Act

Section 93.11 Disposition versions

2006-03-01

93.11. For the purposes of subparagraph b of the first paragraph of section 93.7, subparagraph c of the first paragraph of section 93.8 and section 93.9, where a property of a taxpayer was acquired from a person, the taxpayer is deemed to have acquired the property at the time it was acquired by the person, where

(a)  the taxpayer was, at the time the taxpayer acquired the property, not dealing at arm’s length with the person, otherwise than by reason of a right referred to in paragraph b of section 20, or

(b)  the property was acquired in the course of a reorganization in respect of which, if a dividend were received by a corporation in the course of the reorganization, section 308.1 would not apply to the dividend by reason of the application of section 308.3.

1993, c. 16, s. 56; 1997, c. 3, s. 71.