Section 20(24) Election definition
Section 20(24) Election means a joint election to be executed by Company and Canadian OpCo under Section 20(24) of the Income Tax Act (Canada) and the corresponding sections of any other applicable provincial statute and any regulations under such statutes with respect to the sale, assignment, transfer and conveyance of any deferred revenue forming part of the Assumed Liabilities.
Examples of Section 20(24) Election in a sentence
The Seller and the Purchaser, as applicable, shall file the GST Election, the Section 22 Election and the Section 20(24) Election within the time prescribed by the ETA and Tax Act, as applicable.