Versions of s. 118.01(2)

I-3.3 — Income Tax Act · 2 versions · View current text

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

2014-06-19 to present available View Source

For the purpose of computing the tax payable under this Part by an individual for the taxation year that includes the end of the adoption period in respect of an eligible child of the individual, there may be deducted the amount determined by the formula A × B where A is the appropriate percentage for the taxation year; and B is the lesser ~~of$10,000,~~of$15,000, and the amount determined by the formula C - D where C is the total of all eligible adoption expenses in respect of the eligible child, and D is the total of all amounts each of which is the amount of a reimbursement or any other form of assistance (other than an amount that is included in computing the individual’s income and that is not deductible in computing the individual’s taxable income) that any individual is or was entitled to receive in respect of an amount included in computing the value of C.

Full text

For the purpose of computing the tax payable under this Part by an individual for the taxation year that includes the end of the adoption period in respect of an eligible child of the individual, there may be deducted the amount determined by the formula A × B where A is the appropriate percentage for the taxation year; and B is the lesser of$15,000, and the amount determined by the formula C - D where C is the total of all eligible adoption expenses in respect of the eligible child, and D is the total of all amounts each of which is the amount of a reimbursement or any other form of assistance (other than an amount that is included in computing the individual’s income and that is not deductible in computing the individual’s taxable income) that any individual is or was entitled to receive in respect of an amount included in computing the value of C.
2006-06-22 to 2014-06-19 View Source

For the purpose of computing the tax payable under this Part by an individual for the taxation year that includes the end of the adoption period in respect of an eligible child of the individual, there may be deducted the amount determined by the formula A × B where A is the appropriate percentage for the taxation year; and B is the lesser of$10,000, and the amount determined by the formula C - D where C is the total of all eligible adoption expenses in respect of the eligible child, and D is the total of all amounts each of which is the amount of a reimbursement or any other form of assistance (other than an amount that is included in computing the individual’s income and that is not deductible in computing the individual’s taxable income) that any individual is or was entitled to receive in respect of an amount included in computing the value of C.