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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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