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| 1995, c. 17,
Sch. II
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303. (1) Paragraphs 4(4)(b) and (c) of the
Western Grain Transition Payments Act are
replaced by the following:
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(b) a transition payment received in respect
of farmland that was, immediately before
its disposition by the applicant, capital
property of the applicant shall, where the
farmland is disposed of before the payment
is received, be considered to be an amount
required by subsection 53(2) of that Act to
be deducted in computing the adjusted cost
base of the farmland to the applicant
immediately before the disposition;
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(c) a transition payment to which neither
paragraph (a) nor (b) applies, received by
the applicant, shall be considered to be
assistance received in the course of earning
income from a business or property in
respect of the cost of the property or in
respect of an outlay or an expense; and
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(d) where, pursuant to an equitable
arrangement referred to in paragraph 6(c),
a portion of a transition payment received
by an applicant is paid to a person or
partnership that is leasing farmland from
the applicant, that portion paid to the person
or partnership is required to be included in
computing the income of the person or
partnership from a business for the taxation
year of the person or partnership in which it
is received and the amount so paid is
deemed not to be a transition payment
received by the applicant for the purposes of
paragraphs (a) to (c) .
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(2) Subsection (1) applies in respect of
payments made after June 22, 1995.
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| 1988, c. 55
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304. (1) Subsection 102(1) of An Act to
amend the Income Tax Act, the Canada
Pension Plan, the Unemployment Insurance
Act, 1971, the Federal-Provincial Fiscal
Arrangements and Federal Post-Secondary
Education and Health Contributions Act,
1977 and certain related Acts, being chapter
55 of the Statutes of Canada, 1988, is
repealed.
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(2) Subsection 102(5) of the Act is
repealed.
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(3) Subsections (1) and (2) are deemed to
have come into force on September 13,
1988.
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| 1995, c. 21
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305. (1) Subsection 46(8) of An Act to
amend the Income Tax Act, the Income Tax
Application Rules and related Acts, being
chapter 21 of the Statutes of Canada, 1995,
is replaced by the following:
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(8) Subsections (1) to (6) apply to taxation
years of foreign affiliates of taxpayers that
begin after 1994 except that, where there
has been a change in the taxation year of a
foreign affiliate of a taxpayer in 1994 and
after February 22, 1994, subsections (1) to
(6) apply to taxation years of the foreign
affiliate that end after 1994, unless
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(a) the foreign affiliate had requested the
change in writing before February 22,
1994 from the income taxation authority
of the country in which the foreign
affiliate was resident and subject to
income taxation; or
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(b) the foreign affiliate's first taxation
year that began after 1994 began at a time
in 1995 that is earlier than the time at
which that taxation year would have
begun if the change had not occurred .
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(9) Subsection (7) applies to rights
acquired and shares acquired or disposed of
in taxation years of foreign affiliates of
taxpayers that begin after 1994 except that,
where there has been a change in the
taxation year of a foreign affiliate of a
taxpayer in 1994 and after February 22,
1994, subsection (7) applies to rights
acquired and shares acquired or disposed of
in taxation years of the foreign affiliate that
end after 1994, unless
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(a) the foreign affiliate had requested the
change in writing before February 22,
1994 from the income taxation authority
of the country in which the foreign
affiliate was resident and subject to
income taxation; or
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(b) the foreign affiliate's first taxation
year that began after 1994 began at a time
in 1995 that is earlier than the time at
which that taxation year would have
begun if the change had not occurred.
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(2) Subsection (1) is deemed to have come
into force on June 22, 1995.
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| 1996, c. 21
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306. (1) Subsection 30(26) of the Income
Tax Act Budget Amendment Act, being
chapter 21 of the Statutes of Canada 1996,
is replaced by the following:
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(26) Subject to subsection (26.1),
subsections (1) to (3) and (5) to (23),
subsections 127(11.4) and (11.5) of the Act,
as enacted by subsection (24), and
subsections 127(13) to (25) of the Act, as
enacted by subsection (25), apply to
taxation years that begin after 1995.
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(26.1) Where, because of the application
of subsection (26), an amount paid or
payable by a person or partnership to a
taxpayer with whom the person or
partnership does not deal at arm's length
otherwise
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(a) would be a qualified expenditure of
the person or partnership but would not
be a contract payment received or
receivable by the taxpayer, or
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(b) would not be a qualified expenditure
of the person or partnership but would be
a contract payment received or
receivable by the taxpayer,
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the amount is deemed not to be a qualified
expenditure of the person or partnership
and not to be a contract payment received
or receivable by the taxpayer.
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(2) Subsection (1) is deemed to have come
into force on June 20, 1996.
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| 1997, c. 25
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307. (1) Subsection 9(8) of the Income Tax
Budget Amendments Act, 1996, being
chapter 25 of the Statutes of Canada, 1997,
is replaced by the following:
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(8) Subsection (6) applies after 1996,
except that
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(a) a support amount, as defined in
subsection 56.1(4) of the Act, as enacted
by subsection (6), does not include an
amount
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(i) that was received under a decree,
order or judgment of a competent
tribunal, or under a written
agreement, that does not have a
commencement day (within the
meaning assigned by that subsection
56.1(4)), and
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(ii) that if paid and received would, but
for this Act, not be included in
computing the income of the recipient
of the amount; and
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(b) with respect to an amount payable or
receivable under a decree, order or
judgment of a competent tribunal, or
under a written agreement, made after
March 27, 1986 and before 1988, the
portion of the definition ``support
amount'' in subsection 56.1(4) of the Act,
as enacted by subsection (6), before
paragraph (a) shall be read without
reference to ``the recipient has discretion
as to the use of the amount, and''.
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(2) Subsection (1) is deemed to have come
into force on April 25, 1997.
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308. (1) Subsection 18(10) of the Act is
replaced by the following:
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(10) Subsection (5) applies to
amalgamations that occur after 1995,
except that the expression ``subsection
66(12.6), (12.601) or (12.62) in respect of
Canadian exploration expenses or
Canadian development expenses '' in
subsection 87(4.4) of the Act, as enacted by
subsection (5), shall be read as ``subsection
66(12.6), (12.601), (12.62) or (12.64) in
respect of Canadian exploration expenses,
Canadian development expenses or
Canadian oil and gas property expenses '' in
respect of amalgamations that occur before
1999.
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(2) Subsection (1) is deemed to have come
into force on April 25, 1997.
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