Tax wiki
s. 54.2
PART I — Income Tax · DIVISION B — Computation of Income · SUBDIVISION C — Taxable Capital Gains and Allowable Capital Losses · Indexed Security Investment Plans
Certain shares deemed to be capital property
Not yet annotated · Text current to 2026-06-21 · section last amended 2004-08-31
Current text
Where any person has disposed of property that consisted of all or substantially all of the assets used in an active business carried on by that person to a corporation for consideration that included shares of the corporation, the shares shall be deemed to be capital property of the person.
Source: Justice Laws Website. Not an official version.
Historic text
This section has not been amended since the start of the point-in-time record on 31 August 2004.
Earlier versions: Justice Laws point-in-time versions of the Act (from 31 August 2004), and CanLII (under “Versions”). On Justice Laws, each version of section 54.2 links to the one before it.
Enacting and amending legislation
- 1988, c. 55, s. 32
Text before 2004 is found in the annual Statutes of Canada cited above. Application and coming-into-force provisions are not part of the consolidation; see the amending Acts.
Cross-references
Referred to in
References are generated from the statutory text and list other sections of the Act only.
Citation
Income Tax Act, R.S.C. 1985, c. 1 (5th Supp.), s. 54.2.