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Versions of s. 24(2)(a)

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.

  1. 2017-01-01 to present available View Source
    in computing the individual’sindividual incomeis fordeemed theto individual’shave, firstimmediately taxation year ending afterbefore that time, subsectiondisposed 24(1)of shallthe be read without reference to paragraph 24(1)(a)property and thereceived referenceproceeds inof paragraph 24(1)(c) to “the amount deducted by the taxpayer under paragraph (a)” shall be read as a reference to “an amountdisposition equal to the taxpayer’s cumulative eligible capital in respectlesser of the businesscapital cost and the cost amount to the individual of the property immediately before thatthe time”;disposition;
    Full text

    the individual is deemed to have, immediately before that time, disposed of the property and received proceeds of disposition equal to the lesser of the capital cost and the cost amount to the individual of the property immediately before the disposition;

  2. 2004-08-31 to 2017-01-01 View Source

    in computing the individual’s income for the individual’s first taxation year ending after that time, subsection 24(1) shall be read without reference to paragraph 24(1)(a) and the reference in paragraph 24(1)(c) to “the amount deducted by the taxpayer under paragraph (a)” shall be read as a reference to “an amount equal to the taxpayer’s cumulative eligible capital in respect of the business immediately before that time”;