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Versions of s. 70(5.1)(d)

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
    forparagraph (5)(c) applies as if the purposereferences ofto determining,“paragraph after(a)” thatwere time,read as references to “paragraph (5.1)(b)” and the amount required by paragraph 14(1)(b)reference to be“paragraph included(b)” inwere computingread theas income of the beneficiary in respect of any subsequent disposition of the property of the business, there shall be addedreference to the“paragraph amount determined for Q in the definition cumulative eligible capital in subsection 14(5) the amount determined by the formula A × B/C where A is the amount, if any, determined for Q in that definition in respect of the business of the taxpayer immediately before that time, B is the fair market value immediately before that time of the particular property, and C is the fair market value immediately before that time of all eligible capital property of the taxpayer in respect of the business.(5.1)(c)”.
    Full text

    paragraph (5)(c) applies as if the references to “paragraph (a)” were read as references to “paragraph (5.1)(b)” and the reference to “paragraph (b)” were read as reference to “paragraph (5.1)(c)”.

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

    for the purpose of determining, after that time, the amount required by paragraph 14(1)(b) to be included in computing the income of the beneficiary in respect of any subsequent disposition of the property of the business, there shall be added to the amount determined for Q in the definition cumulative eligible capital in subsection 14(5) the amount determined by the formula A × B/C where A is the amount, if any, determined for Q in that definition in respect of the business of the taxpayer immediately before that time, B is the fair market value immediately before that time of the particular property, and C is the fair market value immediately before that time of all eligible capital property of the taxpayer in respect of the business.