Versions of s. 148(7)(c)

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.

2017-12-14 to present available View Source

in computing the paid-up capital in respect of each class of shares of the capital stock of a corporation at any time at or after the disposition time there shall be deducted the amount determined by the formula(A − B × C/D) × E/A where A is the increase, if any, as a result of the disposition, in the paid-up capital in respect of all the shares of the capital stock of the corporation, B is the amount determined under paragraph (a) in respect of the disposition, C is if consideration is given for the interest, the fair market value at the disposition time of consideration that is shares of the capital stock of the corporation given for the interest, and if no consideration is given for the interest, 1, D is if consideration is given for the interest, the fair market value at the disposition time of the consideration given for the interest, and if no consideration is given for the interest, 1, and E is the increase, if any, as a result of the disposition, in the paid-up capital in respect of the class of shares, computed without reference to this paragraph as it applies to the disposition;

Full text

in computing the paid-up capital in respect of each class of shares of the capital stock of a corporation at any time at or after the disposition time there shall be deducted the amount determined by the formula(A − B × C/D) × E/A where A is the increase, if any, as a result of the disposition, in the paid-up capital in respect of all the shares of the capital stock of the corporation, B is the amount determined under paragraph (a) in respect of the disposition, C is if consideration is given for the interest, the fair market value at the disposition time of consideration that is shares of the capital stock of the corporation given for the interest, and if no consideration is given for the interest, 1, D is if consideration is given for the interest, the fair market value at the disposition time of the consideration given for the interest, and if no consideration is given for the interest, 1, and E is the increase, if any, as a result of the disposition, in the paid-up capital in respect of the class of shares, computed without reference to this paragraph as it applies to the disposition;
2016-12-15 to 2017-12-14 View Source

in computing the paid-up capital in respect of each class of shares of the capital stock of a corporation at any time at or after the disposition time there shall be deducted the amount determined by the formula(A − B × C/D) × E/A where A is the increase, if any, as a result of the disposition, in the paid-up capital in respect of all the shares of the capital stock of the corporation, B is the amount determined under paragraph (a) in respect of the disposition, C is if consideration is given for the interest, the fair market value at the disposition time of consideration that is shares of the capital stock of the corporation given for the interest, and if no consideration is given for the interest, 1, D is if consideration is given for the interest, the fair market value at the disposition time of the consideration given for the interest, and if no consideration is given for the interest, 1, and E is the increase, if any, as a result of the disposition, in the paid-up capital in respect of the class of shares, computed without reference to this paragraph as it applies to the disposition;