Income Tax Act — I-3.3 110.6
scribed in clause (A) throughout the period beginning 24 months before the determination time and ending at the time of substitution, and (ii) was a share of the capital stock of a corporation described in paragraph (c) throughout that part of the period referred to in subparagraph (i) during which the share was owned by a person or partnership described in clause (A); ( action admissible de petite entreprise ) share of the capital stock of a family farm corporation [Repealed, 2014, c. 39, s. 30] share of the capital stock of a family farm or fishing corporation , of an individual (other than a trust that is not a personal trust) at any time, means a share of the capital stock of a corporation owned by the individual at that time if (a) throughout any 24-month period ending before that time, more than 50% of the fair market value of the property owned by the corporation was attributable to (i) property that was used principally in the course of carrying on a farming or fishing business in Canada in which the individual, a beneficiary referred to in clause (C) or a spouse or common-law partner, child or parent of the individual or of a beneficiary referred to in clause (C), was actively engaged on a regular and continuous basis, by (A) the corporation, (B) the individual, (C) if the individual is a personal trust, a beneficiary of the trust, (D) a spouse, common-law partner, child or parent of the individual or of a beneficiary referred to in clause (C), (E) another corporation that is related to the corporation and of which a share of the capital stock was a share of the capital stock of a family farm or fishing corporation of the individual, a beneficiary referred to in clause (C) or a spouse, common-law partner, child or parent of the individual or of a beneficiary referred to in clause (C), or (F) a partnership, an interest in which was an interest in a family farm or fishing partnership of the individual, a beneficiary referred to in clause (C) or a spouse, common-law partner, child or parent of the individual or of such a beneficiary, (ii) shares of the capital stock or indebtedness of one or more corporations of which all or substantially all of the fair market value of the property was attributable to property described in subparagraph (iv), (iii) a partnership interest in or indebtedness of one or more partnerships of which all or substantially all of the fair market value of the property was attributable to properties described in subparagraph (iv), or (iv) properties described in any of subparagraphs (i) to (iii), and (b) at that time, all or substantially all of the fair market value of the property owned by the corporation was attributable to property described in subparagraph (a)(iv). ( action du capital-actions d’une société agricole ou de pêche familiale ) share of the capital stock of a family fishing corporation [Repealed, 2014, c. 39, s. 30] Value of NISA (1.1) For the purposes of the definitions qualified small business corporation share and share of the capital stock of a family farm or fishing corporation in subsection (1), the fair market value of a net income stabilization account is deemed to be nil. (1.2) [Repealed, 2014, c. 39, s. 30] Farming or fishing property — conditions (1.3) For the purpose of applying the definition qualified farm or fishing property , in subsection (1), of an individual, at any time, a property owned at that time by the individual, the spouse or common-law partner of the individual, or a partnership, an interest in which is an interest in a family farm or fishing partnership of the individual or of the individual’s spouse or common-law partner, will not be considered to have been used in the course of carrying on a farming or fishing business in Canada, unless (a) the following apply in respect of the property or property for which the property was substituted (in this paragraph referred to as “the property”), (i) the property was owned throughout the period of at least 24 mon