ARCHIVED - Dispositions - Changes in Terms of Securities
Disclaimer
We do not guarantee the accuracy of this copy of the CRA website.
Scraped Page Content
ARCHIVED - Dispositions - Changes in Terms of Securities
We have archived this page and will not be updating it.
You can use it for research or reference.
We have archived this page and will not be updating it.
You can use it for research or reference.
What the "Archived Content" notice means for interpretation bulletins
NO: IT-448SR
DATE: June 21, 1982
SUBJECT: INCOME TAX ACT
Dispositions - Changes in Terms of Securities
REFERENCE: SPECIAL RELEASE
The purpose of this Special Release is to modify the Department's position as to whether a disposition occurs on the reduction in the paid-up capital of a share of the capital stock of a corporation. Accordingly, paragraphs 12 and 13 of IT-448 are to be replaced with the following:
"A reduction in paid-up capital that involves the redemption (see 2 above), or cancellation of a share gives rise, by necessity, to a disposition in the hands of the holder by virtue of clause 54(c)(ii)(A) of the Act. However, a reduction in the paid-up capital in respect of a share, not accompanied by a redemption or cancellation of that share, will not constitute a disposition of that share".
Privacy statement
The information you provide through this survey is collected under the authority of the Department of Employment and Social Development Act (DESDA) for the purpose of measuring the performance of Canada.ca and continually improving the website. Your participation is voluntary.
Please do not include sensitive personal information in the message box, such as your name, address, Social Insurance Number, personal finances, medical or work history or any other information by which you or anyone else can be identified by your comments or views.
Any personal information collected will be administered in accordance with the Department of Employment and Social Development Act, the Privacy Act and other applicable privacy laws governing the protection of personal information under the control of the Department of Employment and Social Development. Survey responses will not be attributed to individuals.
If you wish to obtain information related to this survey, you may submit a request to the Department of Employment and Social Development pursuant to the Access to Information Act. Instructions for making a request are provided in the publication InfoSource, copies of which are located in local Service Canada Centres.
You have the right to file a complaint with the Privacy Commissioner of Canada regarding the institution’s handling of your personal information at: How to file a complaint.
When making a request, please refer to the name of this survey: Report a Problem or Mistake on This Page.
- Date modified:
- 2002-09-06