Versions of s. 10(10)

I-3.3 — Income Tax Act · 3 versions · View current text

Historical text comes from the Justice Laws point-in-time corpus and is unofficial — not the official version.

2017-12-14 to present available View Source

Notwithstanding subsection (1.01), property described in an inventory of a taxpayer’s business that is an adventure or concern in the nature of trade at the end of the taxpayer’s taxation year that ends immediately before the time at which the taxpayer is subject to a loss restriction event is to be valued at the cost at which the taxpayer acquired the property, or its fair market value at the end of the year, whichever is lower, and after that time the cost at which the taxpayer acquired the property is, subject to a subsequent application of this subsection, deemed to be that lower amount.

Full text

Notwithstanding subsection (1.01), property described in an inventory of a taxpayer’s business that is an adventure or concern in the nature of trade at the end of the taxpayer’s taxation year that ends immediately before the time at which the taxpayer is subject to a loss restriction event is to be valued at the cost at which the taxpayer acquired the property, or its fair market value at the end of the year, whichever is lower, and after that time the cost at which the taxpayer acquired the property is, subject to a subsequent application of this subsection, deemed to be that lower amount.
2013-12-12 to 2017-12-14 View Source

Notwithstanding subsection ~~10(1.01),~~(1.01), property described in an inventory of a ~~corporation’s~~taxpayer’s business that is an adventure or concern in the nature of trade at the end of the ~~corporation’s~~taxpayer’s taxation year that ends immediately before the time at which ~~control of~~ the ~~corporation~~taxpayer is ~~acquired~~subject byto a ~~person~~loss orrestriction ~~group~~event ofis ~~persons shall~~to be valued at the cost at which the ~~corporation~~taxpayer acquired the property, or its fair market value at the end of the year, whichever is lower, ~~and,~~and after that ~~time,~~time the cost at which the ~~corporation~~taxpayer acquired the property is, subject to a subsequent application of this subsection, deemed to be that lower amount.

Full text

Notwithstanding subsection (1.01), property described in an inventory of a taxpayer’s business that is an adventure or concern in the nature of trade at the end of the taxpayer’s taxation year that ends immediately before the time at which the taxpayer is subject to a loss restriction event is to be valued at the cost at which the taxpayer acquired the property, or its fair market value at the end of the year, whichever is lower, and after that time the cost at which the taxpayer acquired the property is, subject to a subsequent application of this subsection, deemed to be that lower amount.
2004-08-31 to 2013-12-12 View Source

Notwithstanding subsection 10(1.01), property described in an inventory of a corporation’s business that is an adventure or concern in the nature of trade at the end of the corporation’s taxation year that ends immediately before the time at which control of the corporation is acquired by a person or group of persons shall be valued at the cost at which the corporation acquired the property, or its fair market value at the end of the year, whichever is lower, and, after that time, the cost at which the corporation acquired the property is, subject to a subsequent application of this subsection, deemed to be that lower amount.