Hyperlawhypertext legal database Income Tax Act

← Historical versions

Versions of s. 14(15)

I-3.3 — Income Tax Act · 1 version

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

  1. 2004-08-31 to 2017-01-01 View Source

    If at a particular time a non-resident taxpayer ceases to use, in connection with a business or part of a business carried on by the taxpayer outside Canada immediately before the particular time, and begins to use, in connection with a business or part of a business carried on by the taxpayer in Canada, a property that is an eligible capital property of the taxpayer, the taxpayer is deemed to have disposed of the property immediately before the particular time and to have reacquired the property at the particular time for consideration equal to the lesser of the cost to the taxpayer of the property immediately before the particular time and its fair market value immediately before the particular time.