Versions of s. 118.61(4)

I-3.3 — Income Tax Act · 3 versions · View current text

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

2017-01-01 to present available View Source

For the purpose of determining the amount that may be deducted under subsection (2) ~~or 118.6(2.1)~~ in computing an individual’s tax payable for a taxation year, in circumstances where the appropriate percentage for the taxation year is different from the appropriate percentage for the preceding taxation year, the individual’s unused tuition, textbook and education tax credits at the end of the preceding taxation year is deemed to be the amount determined by the formula A/B × C where A is the appropriate percentage for the current taxation year; B is the appropriate percentage for the preceding taxation year; and C is the amount that would be the individual’s unused tuition, textbook and education tax credits at the end of the preceding taxation year if this section were read without reference to this subsection.

Full text

For the purpose of determining the amount that may be deducted under subsection (2) in computing an individual’s tax payable for a taxation year, in circumstances where the appropriate percentage for the taxation year is different from the appropriate percentage for the preceding taxation year, the individual’s unused tuition, textbook and education tax credits at the end of the preceding taxation year is deemed to be the amount determined by the formula A/B × C where A is the appropriate percentage for the current taxation year; B is the appropriate percentage for the preceding taxation year; and C is the amount that would be the individual’s unused tuition, textbook and education tax credits at the end of the preceding taxation year if this section were read without reference to this subsection.
2007-02-21 to 2017-01-01 View Source

For the purpose of determining the amount that may be deducted under subsection (2) or 118.6(2.1) in computing an individual’s tax payable for a taxation year, in circumstances where the appropriate percentage for the taxation year is different from the appropriate percentage for the preceding taxation year, the individual’s unused ~~tuition~~tuition, ~~fee~~textbook and education tax ~~credit~~credits at the end of the preceding taxation year is deemed to be the amount determined by the formula A/B × C where A is the appropriate percentage for the current taxation year; B is the appropriate percentage for the preceding taxation year; and C is the amount that would be the individual’s unused ~~tuition~~tuition, textbook and education tax credits at the end of the preceding taxation year if this section were read without reference to this subsection.

Full text

For the purpose of determining the amount that may be deducted under subsection (2) or 118.6(2.1) in computing an individual’s tax payable for a taxation year, in circumstances where the appropriate percentage for the taxation year is different from the appropriate percentage for the preceding taxation year, the individual’s unused tuition, textbook and education tax credits at the end of the preceding taxation year is deemed to be the amount determined by the formula A/B × C where A is the appropriate percentage for the current taxation year; B is the appropriate percentage for the preceding taxation year; and C is the amount that would be the individual’s unused tuition, textbook and education tax credits at the end of the preceding taxation year if this section were read without reference to this subsection.
2006-06-22 to 2007-02-21 View Source

For the purpose of determining the amount that may be deducted under subsection (2) in computing an individual’s tax payable for a taxation year, in circumstances where the appropriate percentage for the taxation year is different from the appropriate percentage for the preceding taxation year, the individual’s unused tuition fee and education tax credit at the end of the preceding taxation year is deemed to be the amount determined by the formula A/B × C where A is the appropriate percentage for the current taxation year; B is the appropriate percentage for the preceding taxation year; and C is the amount that would be the individual’s unused tuition and education tax credits at the end of the preceding taxation year if this section were read without reference to this subsection.