Hyperlawhypertext legal database Excise Tax Act

← Historical versions

Versions of s. 120(3)(b)

E-15 — Excise Tax Act · 1 version · View current text

Historical text comes from the Justice Laws point-in-time corpus and is unofficial — not the official version.

  1. 2003-01-01 to present available View Source

    where the tax-paid goods are used goods, the goods shall be deemed, for the purposes of section 176, to be used tangible personal property supplied in Canada by way of sale on January 1, 1991 to the person in respect of which tax was not payable by the person and to have been acquired for the purpose of supply in the course of commercial activities of the person for consideration paid on that day equal to 50% of the amount at which the goods would be required to be valued on that date for the purpose of computing the person’s income from a business for the purposes of the Income Tax Act.