Versions of s. 149.2(3)

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.

2009-03-12 to present available View Source

The net increase in the excess corporate holdings percentage of a private foundation for a taxation year, in respect of a class of shares of the capital stock of a corporation, is the number of percentage points, if any, determined by the formula A - B where A is the excess corporate holdings percentage of the private foundation at the end of the taxation year, in respect of the class, and B is 0%, if at the beginning of the taxation year the private foundation was not both a private foundation and a registered charity, or the private foundation was both a registered charity and a private foundation on March 18, 2007 and the taxation year is the first taxation year of the private foundation that begins after that date; and in any other case, the excess corporate holdings percentage of the private foundation in respect of the class at the end of its preceding taxation year.

Full text

The net increase in the excess corporate holdings percentage of a private foundation for a taxation year, in respect of a class of shares of the capital stock of a corporation, is the number of percentage points, if any, determined by the formula A - B where A is the excess corporate holdings percentage of the private foundation at the end of the taxation year, in respect of the class, and B is 0%, if at the beginning of the taxation year the private foundation was not both a private foundation and a registered charity, or the private foundation was both a registered charity and a private foundation on March 18, 2007 and the taxation year is the first taxation year of the private foundation that begins after that date; and in any other case, the excess corporate holdings percentage of the private foundation in respect of the class at the end of its preceding taxation year.
2007-12-14 to 2009-03-12 View Source

The net increase in the excess corporate holdings percentage of a private foundation for a taxation year, in respect of a class of shares of the capital stock of a corporation, is the number of percentage points, if any, determined by the formula A - B where A is the excess corporate holdings percentage of the private foundation at the end of the taxation year, in respect of the class, and B is 0%, if at the beginning of the taxation year the private foundation was not both a private foundation and a registered charity, or the private foundation was both a registered charity and a private foundation on March 18, 2007 and the taxation year is the first taxation year of the private foundation that begins after that date; and in any other case, the excess corporate holdings percentage of the private foundation in respect of the class at the end of its preceding taxation year.