Hyperlawhypertext legal database Income Tax Act

← Historical versions

Versions of s. 212.1(1)

I-3.3 — Income Tax Act · 3 versions · View current text

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

  1. 2018-12-13 to present available View Source
    Subsection (1.1) applies if a non-resident person or designated partnership (in this subsection and subsections (1.1) and (1.2) referred to as the non-resident person) disposes of shares (in this section referred to as the subject“subject shares)shares”) of any class of the capital stock of a corporation resident in Canada (in this section referred to as the subject“subject corporation)corporation”) to another corporation resident in Canada (in this section referred to as the purchaser“purchaser corporation)corporation”) with which the non-resident person does not (otherwise than because of a right referred to in paragraph 251(5)(b)) deal at arm’s length and, immediately after the disposition, the subject corporation is connected (within the meaning that would be assigned by subsection 186(4) if the references in that subsection to “payer corporation” and “particular corporation” were read as “subject corporation” and “purchaser corporation”, respectively)respectively, and if section 186 were read without reference to its subsection (6)) with the purchaser corporation.
    Full text

    Subsection (1.1) applies if a non-resident person disposes of shares (in this section referred to as the “subject shares”) of any class of the capital stock of a corporation resident in Canada (in this section referred to as the “subject corporation”) to another corporation resident in Canada (in this section referred to as the “purchaser corporation”) with which the non-resident person does not (otherwise than because of a right referred to in paragraph 251(5)(b)) deal at arm’s length and, immediately after the disposition, the subject corporation is connected (within the meaning that would be assigned by subsection 186(4) if the references in that subsection to “payer corporation” and “particular corporation” were read as “subject corporation” and “purchaser corporation”, respectively, and if section 186 were read without reference to its subsection (6)) with the purchaser corporation.

  2. 2016-12-15 to 2018-12-13 View Source
    IfSubsection (1.1) applies if a non-resident person,person aor designated partnership or a non-resident-owned investment corporation (in this sectionsubsection and subsections (1.1) and (1.2) referred to as the “non-residentnon-resident person”)person) disposes of shares (in this section referred to as the “subjectsubject shares”)shares) of any class of the capital stock of a corporation resident in Canada (in this section referred to as the “subjectsubject corporation”)corporation) to another corporation resident in Canada (in this section referred to as the “purchaserpurchaser corporation”)corporation) with which the non-resident person does not (otherwise than because of a right referred to in paragraph 251(5)(b)) deal at arm’s length and, immediately after the disposition, the subject corporation is connected (within the meaning that would be assigned by subsection 186(4) if the references in that subsection to “payer corporation” and “particular corporation” were read as “subject corporation” and “purchaser corporation”, respectively) with the purchaser corporation,corporation.
    Full text

    Subsection (1.1) applies if a non-resident person or designated partnership (in this subsection and subsections (1.1) and (1.2) referred to as the non-resident person) disposes of shares (in this section referred to as the subject shares) of any class of the capital stock of a corporation resident in Canada (in this section referred to as the subject corporation) to another corporation resident in Canada (in this section referred to as the purchaser corporation) with which the non-resident person does not (otherwise than because of a right referred to in paragraph 251(5)(b)) deal at arm’s length and, immediately after the disposition, the subject corporation is connected (within the meaning that would be assigned by subsection 186(4) if the references in that subsection to “payer corporation” and “particular corporation” were read as “subject corporation” and “purchaser corporation”, respectively) with the purchaser corporation.

  3. 2004-08-31 to 2016-12-15 View Source

    If a non-resident person, a designated partnership or a non-resident-owned investment corporation (in this section referred to as the “non-resident person”) disposes of shares (in this section referred to as the “subject shares”) of any class of the capital stock of a corporation resident in Canada (in this section referred to as the “subject corporation”) to another corporation resident in Canada (in this section referred to as the “purchaser corporation”) with which the non-resident person does not (otherwise than because of a right referred to in paragraph 251(5)(b)) deal at arm’s length and, immediately after the disposition, the subject corporation is connected (within the meaning that would be assigned by subsection 186(4) if the references in that subsection to “payer corporation” and “particular corporation” were read as “subject corporation” and “purchaser corporation”, respectively) with the purchaser corporation,