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Versions of s. 34.2(7)

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. 2013-12-12 to present available View Source
    Subsections (2) and (3) do not apply in computing a corporation’s income for a taxation year in respect of a partnership if the corporation becomes a bankrupt in the year.
    Full text

    Subsections (2) and (3) do not apply in computing a corporation’s income for a taxation year in respect of a partnership if the corporation becomes a bankrupt in the year.

  2. 2011-12-15 to 2013-12-12 View Source
    WhereSubsections it(2) isand reasonable(3) todo concludenot thatapply onein of the main reasonscomputing a personcorporation’s carriesincome onfor a businesstaxation oryear isin a memberrespect of a partnership is to avoidif the applicationcorporation ofbecomes subparagrapha 34.2(6)(b)(i)bankrupt or 34.2(6)(c)(i),in the person is deemed not to carry on the business, and not to be a member of the partnership, for the purposes of those subparagraphs.year.
    Full text

    Subsections (2) and (3) do not apply in computing a corporation’s income for a taxation year in respect of a partnership if the corporation becomes a bankrupt in the year.

  3. 2004-08-31 to 2011-12-15 View Source

    Where it is reasonable to conclude that one of the main reasons a person carries on a business or is a member of a partnership is to avoid the application of subparagraph 34.2(6)(b)(i) or 34.2(6)(c)(i), the person is deemed not to carry on the business, and not to be a member of the partnership, for the purposes of those subparagraphs.