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Versions of s. 49(2)(b)

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. 2013-06-26 to present available View Source
    the adjustedoption costis basean option to acquire shares of the capital stock of the corporation in consideration for the incurring, pursuant to an agreement described in paragraph (e) of thatthe capitaldefinition Canadian exploration and development expenses in subsection 66(15), paragraph (i) of the definition Canadian exploration expense in subsection 66.1(6), paragraph (g) of the definition Canadian development expense in subsection 66.2(5) or paragraph (c) of the definition Canadian oil and gas property immediatelyexpense beforein thatsubsection time66.4(5), shallof beany deemedexpense todescribed bein nil.whichever of those paragraphs is applicable.
    Full text

    the option is an option to acquire shares of the capital stock of the corporation in consideration for the incurring, pursuant to an agreement described in paragraph (e) of the definition Canadian exploration and development expenses in subsection 66(15), paragraph (i) of the definition Canadian exploration expense in subsection 66.1(6), paragraph (g) of the definition Canadian development expense in subsection 66.2(5) or paragraph (c) of the definition Canadian oil and gas property expense in subsection 66.4(5), of any expense described in whichever of those paragraphs is applicable.

  2. 2004-08-31 to 2013-06-26 View Source

    the adjusted cost base to the corporation of that capital property immediately before that time shall be deemed to be nil.