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Versions of s. 261(6)(b)

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. 2017-12-14 to present available View Source
    had as its last Canadian currency year its last fiscal period, if any, that ends before its first functional currency year;
    Full text

    had as its last Canadian currency year its last fiscal period, if any, that ends before its first functional currency year;

  2. 2009-03-12 to 2017-12-14 View Source
    notwithstandinghad paragraphas 80(2)(k), where an obligation of the taxpayer was issued in a taxation year of the taxpayer preceding the initial functional currency year of the taxpayer in a currency other than the taxpayer’s functional currency for the particular functional currency year, a forgiven amount arising at any time in the particular functional currency year in respect of the obligation is to be determined by reference to the currency exchange rate on the last day of the taxpayer’sits last Canadian currency year inits respectlast offiscal aperiod, conversionif ofany, anthat amountends determinedbefore inits the other currency into an amount determined in the taxpayer’sfirst functional currency for the particular functional currency year.year;
    Full text

    had as its last Canadian currency year its last fiscal period, if any, that ends before its first functional currency year;

  3. 2007-12-14 to 2009-03-12 View Source

    notwithstanding paragraph 80(2)(k), where an obligation of the taxpayer was issued in a taxation year of the taxpayer preceding the initial functional currency year of the taxpayer in a currency other than the taxpayer’s functional currency for the particular functional currency year, a forgiven amount arising at any time in the particular functional currency year in respect of the obligation is to be determined by reference to the currency exchange rate on the last day of the taxpayer’s last Canadian currency year in respect of a conversion of an amount determined in the other currency into an amount determined in the taxpayer’s functional currency for the particular functional currency year.