Versions of s. 14(6)

I-3.3 — Income Tax Act · 2 versions

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

2013-06-26 to 2017-01-01 View Source

~~Where~~If in a taxation year (in this subsection referred to as the “initial year”) a taxpayer disposes of an eligible capital property (in this section referred to as the taxpayer’s “former property”) and the taxpayer so elects under this subsection in the taxpayer’s return of income for the year in which the taxpayer acquires an eligible capital property that is a replacement property for the taxpayer’s former property, ~~such~~the amount, not exceeding the amount that would otherwise be included in the amount determined for E in the definition cumulative eligible capital in subsection ~~14(5)~~(5) (if the description of E in that definition were read without reference to “3/4 of”) in respect of a business, asthat has been used by the taxpayer to acquire the replacement property before the later of the end of the first taxation year after the initial year toand ~~acquire~~12 months after the ~~replacement~~end ~~property~~of the initial year

Full text

If in a taxation year (in this subsection referred to as the “initial year”) a taxpayer disposes of an eligible capital property (in this section referred to as the taxpayer’s “former property”) and the taxpayer so elects under this subsection in the taxpayer’s return of income for the year in which the taxpayer acquires an eligible capital property that is a replacement property for the taxpayer’s former property, the amount, not exceeding the amount that would otherwise be included in the amount determined for E in the definition cumulative eligible capital in subsection (5) (if the description of E in that definition were read without reference to “3/4 of”) in respect of a business, that has been used by the taxpayer to acquire the replacement property before the later of the end of the first taxation year after the initial year and 12 months after the end of the initial year
2004-08-31 to 2013-06-26 View Source

Where in a taxation year (in this subsection referred to as the “initial year”) a taxpayer disposes of an eligible capital property (in this section referred to as the taxpayer’s “former property”) and the taxpayer so elects under this subsection in the taxpayer’s return of income for the year in which the taxpayer acquires an eligible capital property that is a replacement property for the taxpayer’s former property, such amount, not exceeding the amount that would otherwise be included in the amount determined for E in the definition cumulative eligible capital in subsection 14(5) (if the description of E in that definition were read without reference to “3/4 of”) in respect of a business, as has been used by the taxpayer before the end of the first taxation year after the initial year to acquire the replacement property