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← Historical versions

Versions of s. 85(1)(d.1)

I-3.3 — Income Tax Act · 2 versions

Historical text comes from the Justice Laws point-in-time corpus and is unofficial — not the official version.

  1. 2013-06-26 to 2017-01-01 View Source
    for the purpose of determining after the disposition time of the disposition the amount to be included under paragraph 14(1)(b) in computing the corporation’s income, there shall be added to the amount otherwise determined for QC in thethat definition cumulative eligible capital in subsection 14(5)paragraph the amount determined by the formula(Aformula 1/2 × [(A × B/C) -– 2(D -– E)E)] + F + G where A is the amount, if any, determined for Q in thatthe definition cumulative eligible capital in subsection 14(5) in respect of the taxpayer’s business immediately before the timedisposition of the disposition,time, B is the fair market value immediately before thatthe disposition time of the eligible capital property disposed of to the corporation by the taxpayer, C is the total of the fair market value immediately before thatthe disposition time of all eligible capital property of the taxpayer in respect of the business,business and each amount that was described in B in respect of an earlier disposition made after the taxpayer’s adjustment time, D is the amount, if any, that would be included under subsection 14(1) in computing the taxpayer’s income as a result of the disposition if the values determined for C and D in paragraph 14(1)(b) were zero, and E is the amount, if any, that would be included under subsection 14(1) in computing the taxpayer’s income as a result of the disposition if the value determined for D in paragraph 14(1)(b) were zero;zero, F is the total of all amounts, each of which is an amount determined under this paragraph as it applied to the taxpayer in respect of a disposition to the corporation on or before the disposition time, and G is the total of all amounts, each of which is an amount determined under subparagraph 88(1)(c.1)(ii) as it applied to the taxpayer in respect of a winding-up before the disposition time;
    Full text

    for the purpose of determining after the disposition time the amount to be included under paragraph 14(1)(b) in computing the corporation’s income, there shall be added to the amount otherwise determined for C in that paragraph the amount determined by the formula 1/2 × [(A × B/C) – 2(D – E)] + F + G where A is the amount, if any, determined for Q in the definition cumulative eligible capital in subsection 14(5) in respect of the taxpayer’s business immediately before the disposition time, B is the fair market value immediately before the disposition time of the eligible capital property disposed of to the corporation by the taxpayer, C is the total of the fair market value immediately before the disposition time of all eligible capital property of the taxpayer in respect of the business and each amount that was described in B in respect of an earlier disposition made after the taxpayer’s adjustment time, D is the amount, if any, that would be included under subsection 14(1) in computing the taxpayer’s income as a result of the disposition if the values determined for C and D in paragraph 14(1)(b) were zero, E is the amount, if any, that would be included under subsection 14(1) in computing the taxpayer’s income as a result of the disposition if the value determined for D in paragraph 14(1)(b) were zero, F is the total of all amounts, each of which is an amount determined under this paragraph as it applied to the taxpayer in respect of a disposition to the corporation on or before the disposition time, and G is the total of all amounts, each of which is an amount determined under subparagraph 88(1)(c.1)(ii) as it applied to the taxpayer in respect of a winding-up before the disposition time;

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

    for the purpose of determining after the time of the disposition the amount to be included under paragraph 14(1)(b) in computing the corporation’s income, there shall be added to the amount otherwise determined for Q in the definition cumulative eligible capital in subsection 14(5) the amount determined by the formula(A × B/C) - 2(D - E) where A is the amount, if any, determined for Q in that definition in respect of the taxpayer’s business immediately before the time of the disposition, B is the fair market value immediately before that time of the eligible capital property disposed of to the corporation by the taxpayer, C is the fair market value immediately before that time of all eligible capital property of the taxpayer in respect of the business, D is the amount, if any, that would be included under subsection 14(1) in computing the taxpayer’s income as a result of the disposition if the values determined for C and D in paragraph 14(1)(b) were zero, and E is the amount, if any, that would be included under subsection 14(1) in computing the taxpayer’s income as a result of the disposition if the value determined for D in paragraph 14(1)(b) were zero;