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← Historical versions

Versions of s. 127(11.7), definition “adjusted selling cost”

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.

  1. 2018-06-21 to present available View Source
    adjusted selling cost to a person or partnership (referred to in this definition as the “supplier”) of a property is the amount determined by the formula A - B where A is where the property is purchased from another person or partnership with which the supplier does not deal at arm’s length, the lesser of the cost to the supplier of the property, and the adjusted selling cost to the other person or partnership of the property, and in any other case, the cost to the supplier of the property, and for the purpose of paragraph (b), where part of the cost to a supplier of a particular property is attributable to another property acquired by the supplier from a person or partnership with which the supplier does not deal at arm’s length, that part of the cost is deemed to be the lesser of the amount of that part of the cost otherwise determined, and the adjusted selling cost to the person or the partnership of the other property, where part of the cost to a supplier of a property is attributable to a service (other than a service rendered by a person as an employee of the supplier) rendered to the supplier by a person or partnership with which the supplier does not deal at arm’s length, that part of the cost is deemed to be the lesser of the amount of that part of the cost otherwise determined, and the adjusted service cost to the person or partnership of rendering the service, and no part of the cost to a supplier of a property that is attributable to remuneration based on profits or a bonus paid or payable to an employee of the supplier shall be included, and B is the total of all amounts each of which is the amount of government assistance or non-government assistance that can reasonably be considered to be in respect of the property and that the supplier has received, is entitled to receive or can reasonably be expected to receive. (coût de vente rajusté)
    Full text

    adjusted selling cost to a person or partnership (referred to in this definition as the “supplier”) of a property is the amount determined by the formula A - B where A is where the property is purchased from another person or partnership with which the supplier does not deal at arm’s length, the lesser of the cost to the supplier of the property, and the adjusted selling cost to the other person or partnership of the property, and in any other case, the cost to the supplier of the property, and for the purpose of paragraph (b), where part of the cost to a supplier of a particular property is attributable to another property acquired by the supplier from a person or partnership with which the supplier does not deal at arm’s length, that part of the cost is deemed to be the lesser of the amount of that part of the cost otherwise determined, and the adjusted selling cost to the person or the partnership of the other property, where part of the cost to a supplier of a property is attributable to a service (other than a service rendered by a person as an employee of the supplier) rendered to the supplier by a person or partnership with which the supplier does not deal at arm’s length, that part of the cost is deemed to be the lesser of the amount of that part of the cost otherwise determined, and the adjusted service cost to the person or partnership of rendering the service, and no part of the cost to a supplier of a property that is attributable to remuneration based on profits or a bonus paid or payable to an employee of the supplier shall be included, and B is the total of all amounts each of which is the amount of government assistance or non-government assistance that can reasonably be considered to be in respect of the property and that the supplier has received, is entitled to receive or can reasonably be expected to receive. (coût de vente rajusté)

  2. 2016-06-22 to 2018-06-21 View Source
    adjusted selling cost to a person or partnership (referred to in this definition as the “supplier”) of a property is the amount determined by the formula A - B where A is where the property is purchased from another person or partnership with which the supplier does not deal at arm’s length, the lesser of the cost to the supplier of the property, and the adjusted selling cost to the other person or partnership of the property, and in any other case, the cost to the supplier of the property, and for the purpose of paragraph (b), where part of the cost to a supplier of a particular property is attributable to another property acquired by the supplier from a person or partnership with which the supplier does not deal at arm’s length, that part of the cost is deemed to be the lesser of the amount of that part of the cost otherwise determined, and the adjusted selling cost to the person or the partnership of the other property, where part of the cost to a supplier of a property is attributable to a service (other than a service rendered by a person as an employee of the supplier) rendered to the supplier by a person or partnership with which the supplier does not deal at arm’s length, that part of the cost is deemed to be the lesser of the amount of that part of the cost otherwise determined, and the adjusted service cost to the person or partnership of rendering the service, and no part of the cost to a supplier of a property that is attributable to remuneration based on profits or a bonus paid or payable to an employee of the supplier shall be included, and B is the total of all amounts each of which is the amount of government assistance or non-government assistance that can reasonably be considered to be in respect of the property and that the supplier has received, is entitled to receive or can reasonably be expected to receive. (coût de vente rajusté)
    Full text

    adjusted selling cost to a person or partnership (referred to in this definition as the “supplier”) of a property is the amount determined by the formula A - B where A is where the property is purchased from another person or partnership with which the supplier does not deal at arm’s length, the lesser of the cost to the supplier of the property, and the adjusted selling cost to the other person or partnership of the property, and in any other case, the cost to the supplier of the property, and for the purpose of paragraph (b), where part of the cost to a supplier of a particular property is attributable to another property acquired by the supplier from a person or partnership with which the supplier does not deal at arm’s length, that part of the cost is deemed to be the lesser of the amount of that part of the cost otherwise determined, and the adjusted selling cost to the person or the partnership of the other property, where part of the cost to a supplier of a property is attributable to a service (other than a service rendered by a person as an employee of the supplier) rendered to the supplier by a person or partnership with which the supplier does not deal at arm’s length, that part of the cost is deemed to be the lesser of the amount of that part of the cost otherwise determined, and the adjusted service cost to the person or partnership of rendering the service, and no part of the cost to a supplier of a property that is attributable to remuneration based on profits or a bonus paid or payable to an employee of the supplier shall be included, and B is the total of all amounts each of which is the amount of government assistance or non-government assistance that can reasonably be considered to be in respect of the property and that the supplier has received, is entitled to receive or can reasonably be expected to receive. (coût de vente rajusté)

  3. 2004-08-31 to 2016-06-22 View Source

    adjusted selling cost to a person or partnership (referred to in this definition as the “supplier”) of a property is the amount determined by the formula A - B where A is where the property is purchased from another person or partnership with which the supplier does not deal at arm’s length, the lesser of the cost to the supplier of the property, and the adjusted selling cost to the other person or partnership of the property, and in any other case, the cost to the supplier of the property, and for the purpose of paragraph (b), where part of the cost to a supplier of a particular property is attributable to another property acquired by the supplier from a person or partnership with which the supplier does not deal at arm’s length, that part of the cost is deemed to be the lesser of the amount of that part of the cost otherwise determined, and the adjusted selling cost to the person or the partnership of the other property, where part of the cost to a supplier of a property is attributable to a service (other than a service rendered by a person as an employee of the supplier) rendered to the supplier by a person or partnership with which the supplier does not deal at arm’s length, that part of the cost is deemed to be the lesser of the amount of that part of the cost otherwise determined, and the adjusted service cost to the person or partnership of rendering the service, and no part of the cost to a supplier of a property that is attributable to remuneration based on profits or a bonus paid or payable to an employee of the supplier shall be included, and B is the total of all amounts each of which is the amount of government assistance or non-government assistance that can reasonably be considered to be in respect of the property and that the supplier has received, is entitled to receive or can reasonably be expected to receive.