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← Historical versions

Versions of s. 120.4(3)

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.

  1. 2023-06-22 to present available View Source
    Notwithstanding any other provision of this Act, if an individual is a specified individual for a taxation year, the individual’s tax payable under this Part for the year shall not be less than the amountamount, if any, determined by whichthe formula(A + B) − (C + D) where A is the amount added under subsection (2) to the individual’s tax payable under this Part for the yearyear; exceedsB is the amount determinedthat byis the formulalesser Aof +the Bamounts wheredetermined Aunder paragraphs 117(2.1)(a) and (b) for the individual for the year; C is the amount deducted under section 118.3 in computing the individual’s tax payable under this Part for the year; and BD is the total of all amounts each of which is the amount that may be deducted under section 121 or 126 in computing the individual’s tax payable under this Part for the year, and can reasonably be considered to be in respect of an amount included in computing the individual’s split income for the year.
    Full text

    Notwithstanding any other provision of this Act, if an individual is a specified individual for a taxation year, the individual’s tax payable under this Part for the year shall not be less than the amount, if any, determined by the formula(A + B) − (C + D) where A is the amount added under subsection (2) to the individual’s tax payable under this Part for the year; B is the amount that is the lesser of the amounts determined under paragraphs 117(2.1)(a) and (b) for the individual for the year; C is the amount deducted under section 118.3 in computing the individual’s tax payable under this Part for the year; and D is the total of all amounts each of which is the amount that may be deducted under section 121 or 126 in computing the individual’s tax payable under this Part for the year, and can reasonably be considered to be in respect of an amount included in computing the individual’s split income for the year.

  2. 2018-06-21 to 2023-06-22 View Source
    Notwithstanding any other provision of this Act, whereif an individual is a specified individual in relation tofor a taxation year, the individual’s tax payable under this Part for the year shall not be less than the amount by which the amount added under subsection (2) to the individual’s tax payable under this Part for the year exceeds the amount determined by the formula A + B where A is the amount deducted under section 118.3 in computing the individual’s tax payable under this Part for the year; and B is the total of all amounts each of which is the amount that may be deducted under section 121 or 126 in computing the individual’s tax payable under this Part for the year, and can reasonably be considered to be in respect of an amount included in computing the individual’s split income for the year.
    Full text

    Notwithstanding any other provision of this Act, if an individual is a specified individual for a taxation year, the individual’s tax payable under this Part for the year shall not be less than the amount by which the amount added under subsection (2) to the individual’s tax payable under this Part for the year exceeds the amount determined by the formula A + B where A is the amount deducted under section 118.3 in computing the individual’s tax payable under this Part for the year; and B is the total of all amounts each of which is the amount that may be deducted under section 121 or 126 in computing the individual’s tax payable under this Part for the year, and can reasonably be considered to be in respect of an amount included in computing the individual’s split income for the year.

  3. 2004-08-31 to 2018-06-21 View Source

    Notwithstanding any other provision of this Act, where an individual is a specified individual in relation to a taxation year, the individual’s tax payable under this Part for the year shall not be less than the amount by which