Hyperlawhypertext legal database Income Tax Act

← Historical versions

Versions of s. 111(8), definition “net capital loss”

I-3.3 — Income Tax Act · 5 versions · View current text

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

  1. 2018-01-01 to present available View Source
    net capital loss of a taxpayer for a taxation year means the amount determined by the formula A - B + C - D where A is the amount, if any, determined under subparagraph 3(b)(ii) in respect of the taxpayer for the year, B is the lesser of the total determined under subparagraph 3(b)(i) in respect of the taxpayer for the year and the amount determined for A in respect of the taxpayer for the year, C is the least of the amount of the allowable business investment losses of the taxpayer for the taxpayer’s tenth preceding taxation year, the amount, if any, by which the amount of the non-capital loss of the taxpayer for the taxpayer’s tenth preceding taxation year exceeds the total of all amounts in respect of that non-capital loss deducted in computing the taxpayer’s taxable income or claimed by the taxpayer under paragraph 186(1)(c) or (d) for the year or for any preceding taxation year, and if the taxpayer was subject to a loss restriction event before the end of the year and after the end of the taxpayer’s tenth preceding taxation year, nil, and D is the total of all amounts by which the net capital loss of the taxpayer for the year is required to be reduced because of section 80; (perte en capital nette)
    Full text

    net capital loss of a taxpayer for a taxation year means the amount determined by the formula A - B + C - D where A is the amount, if any, determined under subparagraph 3(b)(ii) in respect of the taxpayer for the year, B is the lesser of the total determined under subparagraph 3(b)(i) in respect of the taxpayer for the year and the amount determined for A in respect of the taxpayer for the year, C is the least of the amount of the allowable business investment losses of the taxpayer for the taxpayer’s tenth preceding taxation year, the amount, if any, by which the amount of the non-capital loss of the taxpayer for the taxpayer’s tenth preceding taxation year exceeds the total of all amounts in respect of that non-capital loss deducted in computing the taxpayer’s taxable income or claimed by the taxpayer under paragraph 186(1)(c) or (d) for the year or for any preceding taxation year, and if the taxpayer was subject to a loss restriction event before the end of the year and after the end of the taxpayer’s tenth preceding taxation year, nil, and D is the total of all amounts by which the net capital loss of the taxpayer for the year is required to be reduced because of section 80; (perte en capital nette)

  2. 2017-01-01 to 2018-01-01 View Source
    net capital loss of a taxpayer for a taxation year means the amount determined by the formula A - B + C - D where A is the amount, if any, determined under subparagraph 3(b)(ii) in respect of the taxpayer for the year, B is the lesser of the total determined under subparagraph 3(b)(i) in respect of the taxpayer for the year and the amount determined for A in respect of the taxpayer for the year, C is the least of the amount of the allowable business investment losses of the taxpayer for the taxpayer’s tenth preceding taxation year, the amount, if any, by which the amount of the non-capital loss of the taxpayer for the taxpayer’s tenth preceding taxation year exceeds the total of all amounts in respect of that non-capital loss deducted in computing the taxpayer’s taxable income or claimed by the taxpayer under paragraph 186(1)(c) or (d) for the year or for any preceding taxation year, and if the taxpayer was subject to a loss restriction event before the end of the year and after the end of the taxpayer’s tenth preceding taxation year, nil, and D is the total of all amounts by which the net capital loss of the taxpayer for the year is required to be reduced because of section 80; (perte en capital nette)
    Full text

    net capital loss of a taxpayer for a taxation year means the amount determined by the formula A - B + C - D where A is the amount, if any, determined under subparagraph 3(b)(ii) in respect of the taxpayer for the year, B is the lesser of the total determined under subparagraph 3(b)(i) in respect of the taxpayer for the year and the amount determined for A in respect of the taxpayer for the year, C is the least of the amount of the allowable business investment losses of the taxpayer for the taxpayer’s tenth preceding taxation year, the amount, if any, by which the amount of the non-capital loss of the taxpayer for the taxpayer’s tenth preceding taxation year exceeds the total of all amounts in respect of that non-capital loss deducted in computing the taxpayer’s taxable income or claimed by the taxpayer under paragraph 186(1)(c) or (d) for the year or for any preceding taxation year, and if the taxpayer was subject to a loss restriction event before the end of the year and after the end of the taxpayer’s tenth preceding taxation year, nil, and D is the total of all amounts by which the net capital loss of the taxpayer for the year is required to be reduced because of section 80; (perte en capital nette)

  3. 2013-12-12 to 2017-01-01 View Source
    net capital loss of a taxpayer for a taxation year means the amount determined by the formula A - B + C - D where A is the amount, if any, determined under subparagraph 3(b)(ii) in respect of the taxpayer for the year, B is the lesser of the total determined under subparagraph 3(b)(i) in respect of the taxpayer for the year and the amount determined for A in respect of the taxpayer for the year, C is the least of the amount of the allowable business investment losses of the taxpayer for the taxpayer’s tenth preceding taxation year, the amount, if any, by which the amount of the non-capital loss of the taxpayer for the taxpayer’s tenth preceding taxation year exceeds the total of all amounts in respect of that non-capital loss deducted in computing the taxpayer’s taxable income or claimed by the taxpayer under paragraph 186(1)(c) or (d) for the year or for any preceding taxation year, and if the taxpayer iswas subject to a corporationloss therestriction control of which was acquired by a person or group of personsevent before the end of the year and after the end of the taxpayer’s tenth preceding taxation year, nil, and D is the total of all amounts by which the net capital loss of the taxpayer for the year is required to be reduced because of section 80;
    Full text

    net capital loss of a taxpayer for a taxation year means the amount determined by the formula A - B + C - D where A is the amount, if any, determined under subparagraph 3(b)(ii) in respect of the taxpayer for the year, B is the lesser of the total determined under subparagraph 3(b)(i) in respect of the taxpayer for the year and the amount determined for A in respect of the taxpayer for the year, C is the least of the amount of the allowable business investment losses of the taxpayer for the taxpayer’s tenth preceding taxation year, the amount, if any, by which the amount of the non-capital loss of the taxpayer for the taxpayer’s tenth preceding taxation year exceeds the total of all amounts in respect of that non-capital loss deducted in computing the taxpayer’s taxable income or claimed by the taxpayer under paragraph 186(1)(c) or (d) for the year or for any preceding taxation year, and if the taxpayer was subject to a loss restriction event before the end of the year and after the end of the taxpayer’s tenth preceding taxation year, nil, and D is the total of all amounts by which the net capital loss of the taxpayer for the year is required to be reduced because of section 80;

  4. 2005-05-13 to 2013-12-12 View Source
    net capital loss of a taxpayer for a taxation year means the amount determined by the formula A - B + C - D where A is the amount, if any, determined under subparagraph 3(b)(ii) in respect of the taxpayer for the year, B is the lesser of the total determined under subparagraph 3(b)(i) in respect of the taxpayer for the year and the amount determined for A in respect of the taxpayer for the year, C is the least of the amount of the allowable business investment losses of the taxpayer for the taxpayer’s seventhtenth preceding taxation year, the amount, if any, by which the amount of the non-capital loss of the taxpayer for the taxpayer’s seventhtenth preceding taxation year exceeds the total of all amounts in respect of that non-capital loss deducted in computing the taxpayer’s taxable income or claimed by the taxpayer under paragraph 186(1)(c) or 186(1)(d)(d) for the year or for any preceding taxation year, and whereif the taxpayer is a corporation the control of which was acquired by a person or group of persons before the end of the year and after the end of the taxpayer’s seventhtenth preceding taxation year, nil, and D is the total of all amounts by which the net capital loss of the taxpayer for the year is required to be reduced because of section 80;
    Full text

    net capital loss of a taxpayer for a taxation year means the amount determined by the formula A - B + C - D where A is the amount, if any, determined under subparagraph 3(b)(ii) in respect of the taxpayer for the year, B is the lesser of the total determined under subparagraph 3(b)(i) in respect of the taxpayer for the year and the amount determined for A in respect of the taxpayer for the year, C is the least of the amount of the allowable business investment losses of the taxpayer for the taxpayer’s tenth preceding taxation year, the amount, if any, by which the amount of the non-capital loss of the taxpayer for the taxpayer’s tenth preceding taxation year exceeds the total of all amounts in respect of that non-capital loss deducted in computing the taxpayer’s taxable income or claimed by the taxpayer under paragraph 186(1)(c) or (d) for the year or for any preceding taxation year, and if the taxpayer is a corporation the control of which was acquired by a person or group of persons before the end of the year and after the end of the taxpayer’s tenth preceding taxation year, nil, and D is the total of all amounts by which the net capital loss of the taxpayer for the year is required to be reduced because of section 80;

  5. 2004-08-31 to 2005-05-13 View Source

    net capital loss of a taxpayer for a taxation year means the amount determined by the formula A - B + C - D where A is the amount, if any, determined under subparagraph 3(b)(ii) in respect of the taxpayer for the year, B is the lesser of the total determined under subparagraph 3(b)(i) in respect of the taxpayer for the year and the amount determined for A in respect of the taxpayer for the year, C is the least of the amount of the allowable business investment losses of the taxpayer for the taxpayer’s seventh preceding taxation year, the amount, if any, by which the amount of the non-capital loss of the taxpayer for the taxpayer’s seventh preceding taxation year exceeds the total of all amounts in respect of that non-capital loss deducted in computing the taxpayer’s taxable income or claimed by the taxpayer under paragraph 186(1)(c) or 186(1)(d) for the year or for any preceding taxation year, and where the taxpayer is a corporation the control of which was acquired by a person or group of persons before the end of the year and after the end of the taxpayer’s seventh preceding taxation year, nil, and D is the total of all amounts by which the net capital loss of the taxpayer for the year is required to be reduced because of section 80;