Hyperlawhypertext legal database Income Tax Act

← Historical versions

Versions of s. 118(3)

I-3.3 — Income Tax Act · 6 versions · View current text

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

  1. 2019-04-01 to present available View Source
    For the purpose of computing the tax payable under this Part by an individual for a taxation year, there may be deducted an amount determined by the formula A × B where A is the appropriate percentage for the year; and B is the lesser of$2,000, and the total of the eligible pension income of the individual for the taxation year, and the total of all amounts received by the individual in the year on account of a retirement income security benefit under Part 2 of the Veterans Well-being Act, and the total of all amounts received by the individual in the year on account of an income replacement benefit payable to the individual under Part 2 of the Canadian Forces Members and Veterans Re-establishmentWell-being andAct, Compensationif Act.the amount is determined under subsection 19.1(1), paragraph 23(1)(b) or subsection 26.1(1) of that Act (as modified, where applicable, under Part 5 of that Act).
    Full text

    For the purpose of computing the tax payable under this Part by an individual for a taxation year, there may be deducted an amount determined by the formula A × B where A is the appropriate percentage for the year; and B is the lesser of$2,000, and the total of the eligible pension income of the individual for the taxation year, the total of all amounts received by the individual in the year on account of a retirement income security benefit under Part 2 of the Veterans Well-being Act, and the total of all amounts received by the individual in the year on account of an income replacement benefit payable to the individual under Part 2 of the Veterans Well-being Act, if the amount is determined under subsection 19.1(1), paragraph 23(1)(b) or subsection 26.1(1) of that Act (as modified, where applicable, under Part 5 of that Act).

  2. 2018-06-21 to 2019-04-01 View Source
    For the purpose of computing the tax payable under this Part by an individual for a taxation year, there may be deducted an amount determined by the formula A × B where A is the appropriate percentage for the year; and B is the lesser of$2,000, and the total of the eligible pension income of the individual for the taxation year, and the total of all amounts received by the individual in the year on account of a retirement income security benefit payable to the individual under Part 2 of the Canadian Forces Members and Veterans Re-establishment and Compensation Act.
    Full text

    For the purpose of computing the tax payable under this Part by an individual for a taxation year, there may be deducted an amount determined by the formula A × B where A is the appropriate percentage for the year; and B is the lesser of$2,000, and the total of the eligible pension income of the individual for the taxation year, and the total of all amounts received by the individual in the year on account of a retirement income security benefit payable to the individual under Part 2 of the Canadian Forces Members and Veterans Re-establishment and Compensation Act.

  3. 2017-12-14 to 2018-06-21 View Source
    For the purpose of computing the tax payable under this Part by an individual for a taxation year, there may be deducted an amount determined by the formula A × B where A is the appropriate percentage for the year; and B is the lesser of $2,000of$2,000, and the total of the eligible pension income of the individual for the taxation year.year, and the total of all amounts received by the individual in the year on account of a retirement income security benefit payable to the individual under Part 2 of the Canadian Forces Members and Veterans Re-establishment and Compensation Act.
    Full text

    For the purpose of computing the tax payable under this Part by an individual for a taxation year, there may be deducted an amount determined by the formula A × B where A is the appropriate percentage for the year; and B is the lesser of$2,000, and the total of the eligible pension income of the individual for the taxation year, and the total of all amounts received by the individual in the year on account of a retirement income security benefit payable to the individual under Part 2 of the Canadian Forces Members and Veterans Re-establishment and Compensation Act.

  4. 2007-06-22 to 2017-12-14 View Source
    For the purpose of computing the tax payable under this Part by an individual for a taxation year, there may be deducted an amount determined by the formula A × B where A is the appropriate percentage for the year; and B is the lesser of $2,000 and wherethe eligible pension income of the individual has attainedfor the age of 65 years before the end of the year, the pension income received by the individual in the year, and where the individual has not attained the age of 65 years before the end of the year, the qualified pension income received by the individual in thetaxation year.
    Full text

    For the purpose of computing the tax payable under this Part by an individual for a taxation year, there may be deducted an amount determined by the formula A × B where A is the appropriate percentage for the year; and B is the lesser of $2,000 and the eligible pension income of the individual for the taxation year.

  5. 2007-02-21 to 2007-06-22 View Source
    For the purpose of computing the tax payable under this Part by an individual for a taxation year, there may be deducted an amount determined by the formula A × B where A is the appropriate percentage for the year; and B is the lesser of $1,000$2,000 and where the individual has attained the age of 65 years before the end of the year, the pension income received by the individual in the year, and where the individual has not attained the age of 65 years before the end of the year, the qualified pension income received by the individual in the year.
    Full text

    For the purpose of computing the tax payable under this Part by an individual for a taxation year, there may be deducted an amount determined by the formula A × B where A is the appropriate percentage for the year; and B is the lesser of $2,000 and where the individual has attained the age of 65 years before the end of the year, the pension income received by the individual in the year, and where the individual has not attained the age of 65 years before the end of the year, the qualified pension income received by the individual in the year.

  6. 2004-08-31 to 2007-02-21 View Source

    For the purpose of computing the tax payable under this Part by an individual for a taxation year, there may be deducted an amount determined by the formula A × B where A is the appropriate percentage for the year; and B is the lesser of $1,000 and where the individual has attained the age of 65 years before the end of the year, the pension income received by the individual in the year, and where the individual has not attained the age of 65 years before the end of the year, the qualified pension income received by the individual in the year.