I-3 - Taxation Act

Section 484.3 Disposition versions

2019-06-19

484.3. An amount paid at any time by a person as, on account or in lieu of payment of, or in satisfaction of, a specified amount of a debt that can reasonably be considered to have been included in the amount determined under subparagraph a, c or d of the second paragraph of section 484.2 in respect of a property surrendered before that time by the person is deemed to be a repayment of assistance, at that time in respect of the property, to which

(a)  section 264.7 applies, where the property was capital property, other than depreciable property, of the person immediately before its surrender;

(b)  paragraph o.1 of section 157 applies, where the cost of the property to the person was an incorporeal capital amount, within the meaning of section 106, as it read before being repealed, at the time the property was acquired;

(c)  paragraph e of section 398 or paragraph d of section 411 or 418.5, as the case may be, applies, where the cost of the property to the person was a Canadian exploration expense, a Canadian development expense or a Canadian oil and gas property expense; or

(d)  paragraph o of section 157 applies, in any other case.

1996, c. 39, s. 139; 1998, c. 16, s. 167; 2005, c. 1, s. 112; 2019, c. 14, s. 134.

2006-03-01

484.3. An amount paid at any time by a person as, on account or in lieu of payment of, or in satisfaction of, a specified amount of a debt that can reasonably be considered to have been included in the amount determined under subparagraph a, c or d of the second paragraph of section 484.2 in respect of a property surrendered before that time by the person is deemed to be a repayment of assistance, at that time in respect of the property, to which

(a)  section 264.7 applies, where the property was capital property, other than depreciable property, of the person immediately before its surrender;

(b)  paragraph o.1 of section 157 applies, where the cost of the property to the person was an incorporeal capital amount;

(c)  paragraph e of section 398 or paragraph d of section 411 or 418.5, as the case may be, applies, where the cost of the property to the person was a Canadian exploration expense, a Canadian development expense or a Canadian oil and gas property expense; or

(d)  paragraph o of section 157 applies, in any other case.

1996, c. 39, s. 139; 1998, c. 16, s. 167; 2005, c. 1, s. 112.