Examples of ITA in a sentence
The Purchaser covenants and agrees that, at the request of a particular Vendor, it will make a joint election with such particular Vendor under subsection 85(1) of the ITA, including the relevant provisions of any applicable provincial taxing statute, in prescribed form with respect to the sale of the Purchased Shares by such particular Vendor to the Purchaser pursuant to this Agreement (the “Election”).
Consistent with section 144.1 of the Income Tax Act (Canada) (“ITA”) Boards’ benefit plans can only be moved into the Trust, such that the Trust will be in compliance with the ITA and Canada Revenue Agency administrative requirements for an ELHT.
The agreed amount in such Election shall Vendor acting in its sole and absolute discretion provided that such amount shall be within the limits set out in the ITA (and any applicable provincial taxing statute).