Versions of s. 104(21.2)(b)(ii)(B)

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.

2018-06-21 to present available View Source

from a disposition of a capital property that is a qualified small business corporation share (as defined for the purpose of section 110.6) of the beneficiary equal to the amount determined by the formula(A × B × F)/(D × E) where A is the lesser of the amount determined by the formula G - H where G is the total of amounts designated under subsection (21) for the designation year by the trust, and H is the total of amounts designated under subsection (13.2) for the designation year by the trust, and the trust’s eligible taxable capital gains for the designation year, B is the amount, if any, by which the amount designated under subsection (21) for the designation year by the trust in respect of the beneficiary exceeds the amount designated under subsection (13.2) for the year by the trust in respect of the beneficiary for the taxation year, C is the amount, if any, that would be determined under paragraph 3(b) for the designation year in respect of the trust’s capital gains and capital losses if the only properties referred to in that paragraph were properties that, at the time they were disposed of, were qualified farm properties, qualified fishing properties or qualified farm or fishing properties of the trust, D is the total of all amounts each of which is the amount determined for B for the designation year in respect of a beneficiary under the trust, E is the total of the amounts determined for C and F for the designation year in respect of the beneficiary, and F is the amount, if any, that would be determined under paragraph 3(b) for the designation year in respect of the trust’s capital gains and capital losses if the only properties referred to in that paragraph were properties that, at the time they were disposed of, were qualified small business corporation shares of the trust, other than qualified farm property, qualified fishing property or qualified farm or fishing property, I[Repealed, 2014, c. 39, s. 26]

Full text

from a disposition of a capital property that is a qualified small business corporation share (as defined for the purpose of section 110.6) of the beneficiary equal to the amount determined by the formula(A × B × F)/(D × E) where A is the lesser of the amount determined by the formula G - H where G is the total of amounts designated under subsection (21) for the designation year by the trust, and H is the total of amounts designated under subsection (13.2) for the designation year by the trust, and the trust’s eligible taxable capital gains for the designation year, B is the amount, if any, by which the amount designated under subsection (21) for the designation year by the trust in respect of the beneficiary exceeds the amount designated under subsection (13.2) for the year by the trust in respect of the beneficiary for the taxation year, C is the amount, if any, that would be determined under paragraph 3(b) for the designation year in respect of the trust’s capital gains and capital losses if the only properties referred to in that paragraph were properties that, at the time they were disposed of, were qualified farm properties, qualified fishing properties or qualified farm or fishing properties of the trust, D is the total of all amounts each of which is the amount determined for B for the designation year in respect of a beneficiary under the trust, E is the total of the amounts determined for C and F for the designation year in respect of the beneficiary, and F is the amount, if any, that would be determined under paragraph 3(b) for the designation year in respect of the trust’s capital gains and capital losses if the only properties referred to in that paragraph were properties that, at the time they were disposed of, were qualified small business corporation shares of the trust, other than qualified farm property, qualified fishing property or qualified farm or fishing property, I[Repealed, 2014, c. 39, s. 26]
2014-12-16 to 2018-06-21 View Source

from a disposition of a capital property that is a qualified small business corporation share (as defined for the purpose of section 110.6) of the beneficiary equal to the amount determined by the formula(A × B × F)/(D × E) where A is the lesser of the amount determined by the formula G - H where G is the total of amounts designated under subsection (21) for the designation year by the trust, and H is the total of amounts designated under subsection (13.2) for the designation year by the trust, and the trust’s eligible taxable capital gains for the designation year, B is the amount, if any, by which the amount designated under subsection (21) for the designation year by the trust in respect of the beneficiary exceeds the amount designated under subsection (13.2) for the year by the trust in respect of the beneficiary for the taxation year, C is the amount, if any, that would be determined under paragraph 3(b) for the designation year in respect of the trust’s capital gains and capital losses if the only properties referred to in that paragraph were properties that, at the time they were disposed of, were qualified farm properties, qualified fishing properties or qualified farm or fishing properties of the trust, D is the total of all amounts each of which is the amount determined for B for the designation year in respect of a beneficiary under the trust, E is the total of the amounts determined for C and F for the designation year in respect of the beneficiary, and F is the amount, if any, that would be determined under paragraph 3(b) for the designation year in respect of the trust’s capital gains and capital losses if the only properties referred to in that paragraph were properties that, at the time they were disposed of, were qualified small business corporation shares of the trust, other than qualified farm property, qualified fishing property or qualified farm or fishing property, I[Repealed, 2014, c. 39, s. 26]

Full text

from a disposition of a capital property that is a qualified small business corporation share (as defined for the purpose of section 110.6) of the beneficiary equal to the amount determined by the formula(A × B × F)/(D × E) where A is the lesser of the amount determined by the formula G - H where G is the total of amounts designated under subsection (21) for the designation year by the trust, and H is the total of amounts designated under subsection (13.2) for the designation year by the trust, and the trust’s eligible taxable capital gains for the designation year, B is the amount, if any, by which the amount designated under subsection (21) for the designation year by the trust in respect of the beneficiary exceeds the amount designated under subsection (13.2) for the year by the trust in respect of the beneficiary for the taxation year, C is the amount, if any, that would be determined under paragraph 3(b) for the designation year in respect of the trust’s capital gains and capital losses if the only properties referred to in that paragraph were properties that, at the time they were disposed of, were qualified farm properties, qualified fishing properties or qualified farm or fishing properties of the trust, D is the total of all amounts each of which is the amount determined for B for the designation year in respect of a beneficiary under the trust, E is the total of the amounts determined for C and F for the designation year in respect of the beneficiary, and F is the amount, if any, that would be determined under paragraph 3(b) for the designation year in respect of the trust’s capital gains and capital losses if the only properties referred to in that paragraph were properties that, at the time they were disposed of, were qualified small business corporation shares of the trust, other than qualified farm property, qualified fishing property or qualified farm or fishing property, I[Repealed, 2014, c. 39, s. 26]
2007-02-21 to 2014-12-16 View Source

from a disposition of a capital property that is a qualified small business corporation share (as defined for the purpose of section 110.6) of the beneficiary equal to the amount determined by the formula(A × B × F)/(D × E)