Versions of s. 128.1(2)(a)

I-3.3 — Income Tax Act · 2 versions · View current text

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

2018-12-13 to present available View Source

for the purposes of subsection (1) and this subsection, the paid-up capital adjustment in respect of a particular class of shares of the corporation’s capital stock in respect of that acquisition of residence is the positive or negative amount determined by the formula(A × B/C) - D where A is the amount, if any, by which the total of all amounts each of which is an amount deemed by paragraph (1)(c) to be the cost to the corporation of property deemed under that paragraph to have been acquired by the corporation at the particular time exceeds the total of all amounts each of which is the amount of a debt owing by the corporation, or any other obligation of the corporation to pay an amount, that is outstanding at the particular time, B is the fair market value at the particular time of all of the shares of the particular class, C is the total of all amounts each of which is the fair market value at the particular time of all of the shares of a class of shares of the corporation’s capital stock, and D is the paid-up capital at the particular time, determined without reference to this subsection, in respect of the particular class; and

Full text

for the purposes of subsection (1) and this subsection, the paid-up capital adjustment in respect of a particular class of shares of the corporation’s capital stock in respect of that acquisition of residence is the positive or negative amount determined by the formula(A × B/C) - D where A is the amount, if any, by which the total of all amounts each of which is an amount deemed by paragraph (1)(c) to be the cost to the corporation of property deemed under that paragraph to have been acquired by the corporation at the particular time exceeds the total of all amounts each of which is the amount of a debt owing by the corporation, or any other obligation of the corporation to pay an amount, that is outstanding at the particular time, B is the fair market value at the particular time of all of the shares of the particular class, C is the total of all amounts each of which is the fair market value at the particular time of all of the shares of a class of shares of the corporation’s capital stock, and D is the paid-up capital at the particular time, determined without reference to this subsection, in respect of the particular class; and
2004-08-31 to 2018-12-13 View Source

for the purposes of subsection (1) and this subsection, the paid-up capital adjustment in respect of a particular class of shares of the corporation’s capital stock in respect of that acquisition of residence is the positive or negative amount determined by the formula(A × B/C) - D where A is the amount, if any, by which the total of all amounts each of which is an amount deemed by paragraph (1)(c) to be the cost to the corporation of property deemed under that paragraph to have been acquired by the corporation at the particular time exceeds the total of all amounts each of which is the amount of a debt owing by the corporation, or any other obligation of the corporation to pay an amount, that is outstanding at the particular time, B is the fair market value at the particular time of all of the shares of the particular class, C is the total of all amounts each of which is the fair market value at the particular time of all of the shares of a class of shares of the corporation’s capital stock, and D is the paid-up capital at the particular time, determined without reference to this subsection, in respect of the particular class; and