Versions of s. 133(8), definition “capital gains dividend account”

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.

2013-06-26 to present available View Source

capital gains dividend account of a non-resident-owned investment corporation at any particular time means the amount determined by the formula A - B where A is the total of the following amounts in respect of the period commencing January 1, 1972 and ending immediately after the corporation’s last taxation year ending before the particular time: the corporation’s capital gains for taxation years ending in the period from dispositions in the period of Canadian property or shares of another non-resident-owned investment corporation, and amounts received by the corporation in the period as, on account or in lieu of payment of, or in satisfaction of capital gains dividends from other non-resident-owned investment corporations, and B is the total of the following amounts in respect of the period referred to in the description of A: the corporation’s capital losses for taxation years ending in the period from dispositions in the period of Canadian property or shares of another non-resident-owned investment corporation, all capital gains dividends that became payable by the corporation before the particular time, and the amount determined by the formula 0.25 × (M - N) where M is the total of the corporation’s capital gains for taxation years ending in the period from dispositions in the period of taxable Canadian property, and N is the total of the corporation’s capital losses for the taxation years ending in the period from dispositions in the period of property of the kinds referred to in the description of M; (compte de dividendes sur les gains en capital)

Full text

capital gains dividend account of a non-resident-owned investment corporation at any particular time means the amount determined by the formula A - B where A is the total of the following amounts in respect of the period commencing January 1, 1972 and ending immediately after the corporation’s last taxation year ending before the particular time: the corporation’s capital gains for taxation years ending in the period from dispositions in the period of Canadian property or shares of another non-resident-owned investment corporation, and amounts received by the corporation in the period as, on account or in lieu of payment of, or in satisfaction of capital gains dividends from other non-resident-owned investment corporations, and B is the total of the following amounts in respect of the period referred to in the description of A: the corporation’s capital losses for taxation years ending in the period from dispositions in the period of Canadian property or shares of another non-resident-owned investment corporation, all capital gains dividends that became payable by the corporation before the particular time, and the amount determined by the formula 0.25 × (M - N) where M is the total of the corporation’s capital gains for taxation years ending in the period from dispositions in the period of taxable Canadian property, and N is the total of the corporation’s capital losses for the taxation years ending in the period from dispositions in the period of property of the kinds referred to in the description of M; (compte de dividendes sur les gains en capital)
2004-08-31 to 2013-06-26 View Source

capital gains dividend account of a non-resident-owned investment corporation at any particular time means the amount determined by the formula A - B where A is the total of the following amounts in respect of the period commencing January 1, 1972 and ending immediately after the corporation’s last taxation year ending before the particular time: the corporation’s capital gains for taxation years ending in the period from dispositions in the period of Canadian property or shares of another non-resident-owned investment corporation, and amounts received by the corporation in the period as, on account or in lieu of payment of, or in satisfaction of capital gains dividends from other non-resident-owned investment corporations, and B is the total of the following amounts in respect of the period referred to in the description of A: the corporation’s capital losses for taxation years ending in the period from dispositions in the period of Canadian property or shares of another non-resident-owned investment corporation, all capital gains dividends that became payable by the corporation before the particular time, and the amount determined by the formula 0.25 × (M - N) where M is the total of the corporation’s capital gains for taxation years ending in the period from dispositions in the period of taxable Canadian property, and N is the total of the corporation’s capital losses for the taxation years ending in the period from dispositions in the period of property of the kinds referred to in the description of M;