Income Tax Act

Marginal note:Definitions

• 211.7 (1) The definitions in this section apply for the purposes of this Part.

  approved share

  action approuvée

  approved share has the meaning assigned by subsection 127.4(1). (action approuvée)

  labour-sponsored funds tax credit

  crédit d’impôt relatif à un fonds de travailleurs

  labour-sponsored funds tax credit in respect of a share is

  • (a) where the original acquisition of the share occurred before 1996, 20% of the net cost of the share on that acquisition; and

  • (b) in any other case, the amount that would be determined under subsection 127.4(6) in respect of the share if this Act were read without reference to paragraphs 127.4(6)(b) and 127.4(6)(d). (crédit d’impôt relatif à un fonds de travailleurs)

  net cost

  coût net

  net cost has the meaning assigned by subsection 127.4(1). (coût net)

  original acquisition

  acquisition initiale

  original acquisition has the meaning assigned by subsection 127.4(1). (acquisition initiale)

  qualifying trust

  fiducie admissible

  qualifying trust has the meaning assigned by subsection 127.4(1). (fiducie admissible)

  revoked corporation

  société radiée

  revoked corporation means a corporation the registration of which has been revoked under subsection 204.81(6). (société radiée)

• Marginal note:Amalgamations and mergers

  (2) For the purposes of this Part, where two or more corporations (each of which is referred to in this subsection as a “predecessor corporation”) amalgamate or merge to form a corporate entity deemed by paragraph 204.85(3)(d) to have been registered under Part X.3, the shares of each predecessor corporation are deemed not to be redeemed, acquired or cancelled by the predecessor corporation on the amalgamation or merger.