I-3 - Taxation Act

Section 637.2 Disposition versions

2015-10-21

637.2. Section 637 does not apply in respect of a taxpayer’s disposition of a partnership interest to a partnership or trust described in paragraph c or d of section 637.1 if the extent to which section 637 would, but for this section, apply to the taxpayer’s disposition of the interest because of that paragraph c or d does not exceed 10% of the taxpayer’s interest.

The first paragraph does not apply in respect of a disposition to a trust under which the amount of the income or capital to be distributed at any time in respect of any interest as a beneficiary under the trust depends on the exercise by any person or partnership of, or the failure by any person or partnership to exercise, a power to appoint.

2015, c. 21, s. 211.