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Versions of s. 12.5(3)

I-3.3 — Income Tax Act · 1 version · View current text

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

  1. 2009-03-12 to present available View Source

    If an amount has been deducted under subsection 20.4(2) in computing an insurer’s income for its transition year from an insurance business carried on by it in Canada, there shall be included in computing the insurer’s income, for each particular taxation year of the insurer that ends after the beginning of the transition year, from that insurance business, the amount determined by the formula A × B/1825 where A is the amount deducted under subsection 20.4(2) in computing the insurer’s income for the transition year from that insurance business; and B is the number of days in the particular taxation year that are before the day that is 1825 days after the first day of the transition year.