Section 42

See Also

Bergeron v. The Queen, 2013 DTC 1081 [at 450], 2013 TCC 13

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Fortino v. The Queen, 97 DTC 55 (TCC), briefly aff'd on procedural grounds 2000 DTC 6060 (FCA)

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Words and Phrases
conditional obligation

Administrative Policy

19 January 2015 External T.I. 2013-0511381E5 F - Disposition subject to warranty

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26 November 2014 External T.I. 2014-0551641E5 F - Winding-up and subsection 42(1)

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 88 - Subsection 88(1) effective time of winding-up not delayed by potential litigation liability 94
Tax Topics - Income Tax Act - Section 88 - Subsection 88(2) corporation permitted to claim a s. 42(1)(b) loss after (per IT-126R2) it has been wound up 134

2 October 2014 External T.I. 2013-0513281E5 F - Interaction entre 42(1) et 39(1)c)

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 39 - Subsection 39(1) - Paragraph 39(1)(c) s. 42(1)(b)(ii) payments currently do not qualify as BILs 78

25 October 1994 External T.I. 5-942648 -

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10 September 1991 T.I. (Tax Window, No. 11, p. 15, ΒΆ1512)

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Articles

Keith R. Hennel, "Escrow Arrangements in Acquisition Agreements: What Are You Creating?", CCH Tax Topics, No. 2176, November 21, 2013, p. 1, at 3

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Richardson, "Purchase and Sale of a Business: Income Tax Aspects of Warranties, Price Adjustments, and Earn-Outs", 1990 Corporate Management Tax Conference Report, c. 10, pp. 10:3-10:7.

Subsection 42(1)

Paragraph 42(1)(b)

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28 July 2015 External T.I. 2015-0585431E5 F - Frais juridiques

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