Versions of s. 212(3.7)(d)

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

the relevant funder is deemed to be owed, under the relevant funding arrangement and by the particular relevant funder, an amount as or on account of a debt, the outstanding amount of which is determined by the formula(A – B) × C/D where A is the total of all amounts each of which is at the particular time, an amount outstanding as or on account of a debt or other obligation that is owed to the particular relevant funder under a relevant funding arrangement, the fair market value of a particular property referred to in subparagraph (3.1)(c)(ii) in respect of which the particular relevant funder has granted a specified right under a relevant funding arrangement, or if neither subparagraph (i) nor (ii) applies at that particular time, nil, B is the total of all amounts each of which is, at the particular time, in respect of a relevant funding arrangement (other than a relevant funding arrangement deemed under paragraph (a)) and is an amount outstanding as or on account of a debt or other obligation that is owed by the particular relevant funder under the relevant funding arrangement, the fair market value of a particular property referred to in subparagraph (3.1)(c)(ii) in respect of which the particular relevant funder has been granted a specified right under a relevant funding arrangement, or if neither subparagraph (i) nor (ii) applies at that particular time, nil, C is the fair market value, at the particular time, of if the relevant funding arrangement is described in paragraph (3.6)(a), the shares, or if the relevant funding arrangement is described in paragraph (3.6)(b), the specified royalty arrangement, and D is the total of all amounts each of which is, in respect of a relevant funding arrangement referred to in the description of C, the amount determined for C at the particular time.

Full text

the relevant funder is deemed to be owed, under the relevant funding arrangement and by the particular relevant funder, an amount as or on account of a debt, the outstanding amount of which is determined by the formula(A – B) × C/D where A is the total of all amounts each of which is at the particular time, an amount outstanding as or on account of a debt or other obligation that is owed to the particular relevant funder under a relevant funding arrangement, the fair market value of a particular property referred to in subparagraph (3.1)(c)(ii) in respect of which the particular relevant funder has granted a specified right under a relevant funding arrangement, or if neither subparagraph (i) nor (ii) applies at that particular time, nil, B is the total of all amounts each of which is, at the particular time, in respect of a relevant funding arrangement (other than a relevant funding arrangement deemed under paragraph (a)) and is an amount outstanding as or on account of a debt or other obligation that is owed by the particular relevant funder under the relevant funding arrangement, the fair market value of a particular property referred to in subparagraph (3.1)(c)(ii) in respect of which the particular relevant funder has been granted a specified right under a relevant funding arrangement, or if neither subparagraph (i) nor (ii) applies at that particular time, nil, C is the fair market value, at the particular time, of if the relevant funding arrangement is described in paragraph (3.6)(a), the shares, or if the relevant funding arrangement is described in paragraph (3.6)(b), the specified royalty arrangement, and D is the total of all amounts each of which is, in respect of a relevant funding arrangement referred to in the description of C, the amount determined for C at the particular time.
2017-01-01 to 2017-12-14 View Source

the relevant funder is deemed to be owed, under the relevant funding arrangement and by the particular relevant funder, an amount as or on account of a debt, the outstanding amount of which is determined by the formula(A – B) × C/D where A is the total of all amounts each of which is at the particular time, an amount outstanding as or on account of a debt or other obligation that is owed to the particular relevant funder under a relevant funding arrangement, the fair market value of a particular property referred to in subparagraph (3.1)(c)(ii) in respect of which the particular relevant funder has granted a specified right under a relevant funding arrangement, or if neither subparagraph (i) nor (ii) applies at that particular time, nil, B is the total of all amounts each of which is, at the particular time, in respect of a relevant funding arrangement (other than a relevant funding arrangement deemed under paragraph (a)) and is an amount outstanding as or on account of a debt or other obligation that is owed by the particular relevant funder under the relevant funding arrangement, the fair market value of a particular property referred to in subparagraph (3.1)(c)(ii) in respect of which the particular relevant funder has been granted a specified right under a relevant funding arrangement, or if neither subparagraph (i) nor (ii) applies at that particular time, nil, C is the fair market value, at the particular time, of if the relevant funding arrangement is described in paragraph (3.6)(a), the shares, or if the relevant funding arrangement is described in paragraph (3.6)(b), the specified royalty arrangement, and D is the total of all amounts each of which is, in respect of a relevant funding arrangement referred to in the description of C, the amount determined for C at the particular time.