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- Title
RECENT LEGISLATION AFFECTING PARTNERSHIPS AND FOREIGN AFFILIATES-SUBSECTION 88(1) AND SECTION 100.
- Authors
Yip, Kevin
- Abstract
Recent amendments to the Income Tax Act (Canada) affect the availability of the bump applicable to shares of foreign affiliates and interests in partnerships, as well as the determination of the taxable capital gain in respect of dispositions of interests in partnerships to certain persons and partnerships. This article reviews in detail the amendments in subsection 88(1) and section 100. The author provides an overview of the legislation; describes the application of the rules, using examples; and considers how the subsection 88(1) bump rules could interact with the section 100 amendments.
- Subjects
LEGISLATION; BUSINESS partnerships; CANADA. Income Tax Act; STOCKS (Finance); CAPITAL gains tax laws; CORPORATE divestiture
- Publication
Canadian Tax Journal / Revue Fiscale Canadienne, 2013, Vol 61, Issue 1, p229
- ISSN
0008-5111
- Publication type
Article