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Versions of s. 185.2(5)(b)

I-3.3 — Income Tax Act · 1 version · View current text

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

  1. 2007-02-21 to present available View Source

    a payment at any time by the corporation on account of its liability shall discharge the shareholder’s liability only to the extent of the amount determined by the formula(A - B) × C/D where A is the total of the amount of the corporation’s liability, immediately before that time, under this Part in respect of the designation, and the amount of the payment, B is the amount of the corporation’s liability, immediately before that time, under this Act, C is the amount of the eligible dividend received by the shareholder, and D the total of all amounts each of which is a dividend in respect of which the designation was made.