Income Tax Act — I-3.3 53
e amount designated by the trust under subsection 104(21) in respect of the taxpayer, (II) that was designated by the trust under subsection 104(20) in respect of the taxpayer, or (III) that is an assessable distribution (as defined in subsection 218.3(1)) to the taxpayer, (ii) an amount equal to that portion of all amounts deducted under subsection 127(5) in computing the tax otherwise payable by the taxpayer under this Part for the taxpayer’s taxation years ending before that time that may reasonably be attributed to amounts added in computing the investment tax credit of the taxpayer by virtue of subsection 127(7), (iii) any amount added pursuant to subsection 127.2(3) in computing the taxpayer’s share-purchase tax credit for a taxation year ending before or after that time, (iv) an amount equal to 50% of the amount deemed to be designated pursuant to subsection 127.3(3) before that time in respect of each share, debt obligation or right acquired by the trust and deemed to have been acquired by the taxpayer under that subsection, and (v) an amount equal to the amount of all assistance received by the taxpayer before that time that has resulted in a reduction of the capital cost of a depreciable property to the trust by virtue of subsection 13(7.2); (i) where the property is a capital interest in a trust (other than a unit trust) not resident in Canada that was purchased after 1971 and before that time by the taxpayer from a non-resident person at a time (in this paragraph referred to as the “purchase time”) when the property was not taxable Canadian property and the fair market value of such of the trust property as was (i) a Canadian resource property, (iii) an income interest in a trust resident in Canada, (iv) taxable Canadian property, or (v) a timber resource property was not less than 50% of the fair market value of all the trust property, that proportion of the amount, if any, by which (vi) the fair market value at the purchase time of such of the trust properties as were properties described in any of subparagraphs (i) to (v) exceeds (vii) the total of the cost amounts to the trust at the purchase time of such of the trust properties as were properties described in any of subparagraphs (i) to (v), that the fair market value at the purchase time of the interest is of the fair market value at the purchase time of all capital interests in the trust; (j) where the property is a unit of a unit trust not resident in Canada that was purchased after 1971 and before that time by the taxpayer from a non-resident person at a time (in this paragraph referred to as the “purchase time”) when the property was not taxable Canadian property and the fair market value of such of the trust property as was (i) a Canadian resource property, (iii) an income interest in a trust resident in Canada, (iv) taxable Canadian property, or (v) a timber resource property was not less than 50% of the fair market value of all the trust property, that proportion of the amount, if any, by which (vi) the fair market value at the purchase time of such of the trust properties as were properties described in any of subparagraphs (i) to (v) exceeds (vii) the total of the cost amounts to the trust at the purchase time of such of the trust properties as were properties described in any of subparagraphs (i) to (v), that the fair market value at the purchase time of the unit is of the fair market value at the purchase time of all the issued units of the trust; (k) where the property was acquired by the taxpayer after 1971, the amount, if any, by which the total of (i) the amount of any assistance which the taxpayer has received or is entitled to receive before that time from a government, municipality or other public authority, in respect of, or for the acquisition of, the property, whether as a grant, subsidy, forgivable loan, deduction from tax not otherwise provided for under this paragraph, investment allowance or as any other form of assistance other than