Versions of s. 138(12), definition “gross investment revenue”

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.

2017-12-14 to present available View Source

gross investment revenue of an insurer for a taxation year means the amount determined by the formula A + B + C + D + E + F - G where A is the total of the following amounts included in its gross revenue for the year: taxable dividends, and amounts received or receivable as, on account of, in lieu of or in satisfaction of, interest, rentals or royalties, other than amounts in respect of debt obligations to which subsection 142.3(1) applies for the year, B is its income for the year from each trust of which it is a beneficiary, C is its income for the year from each partnership of which it is a member, D is the total of all amounts required by subsection 16(1) to be included in computing its income for the year, E is the total of all amounts required by paragraph 142.3(1)(a) to be included in computing its income for the year, and all amounts required by subsection 12(3) or 20(14) to be included in computing its income for the year except to the extent that those amounts are included in the computation of A, F is the amount determined by the formula V - W where V is the total of all amounts included under paragraph 56(1)(d) in computing its income for the year, and W is the total of all amounts deducted under paragraph 60(a) in computing its income for the year; and G is the total of all amounts each of which is an amount deemed by subparagraph 16(6)(a)(ii) to be paid by it in respect of the year as interest, or an amount deductible under paragraph 142.3(1)(b) in computing its income for the year; (revenus bruts de placements)

Full text

gross investment revenue of an insurer for a taxation year means the amount determined by the formula A + B + C + D + E + F - G where A is the total of the following amounts included in its gross revenue for the year: taxable dividends, and amounts received or receivable as, on account of, in lieu of or in satisfaction of, interest, rentals or royalties, other than amounts in respect of debt obligations to which subsection 142.3(1) applies for the year, B is its income for the year from each trust of which it is a beneficiary, C is its income for the year from each partnership of which it is a member, D is the total of all amounts required by subsection 16(1) to be included in computing its income for the year, E is the total of all amounts required by paragraph 142.3(1)(a) to be included in computing its income for the year, and all amounts required by subsection 12(3) or 20(14) to be included in computing its income for the year except to the extent that those amounts are included in the computation of A, F is the amount determined by the formula V - W where V is the total of all amounts included under paragraph 56(1)(d) in computing its income for the year, and W is the total of all amounts deducted under paragraph 60(a) in computing its income for the year; and G is the total of all amounts each of which is an amount deemed by subparagraph 16(6)(a)(ii) to be paid by it in respect of the year as interest, or an amount deductible under paragraph 142.3(1)(b) in computing its income for the year; (revenus bruts de placements)
2004-08-31 to 2017-12-14 View Source

gross investment revenue of an insurer for a taxation year means the amount determined by the formula A + B + C + D + E + F - G where A is the total of the following amounts included in its gross revenue for the year: taxable dividends, and amounts received or receivable as, on account of, in lieu of or in satisfaction of, interest, rentals or royalties, other than amounts in respect of debt obligations to which subsection 142.3(1) applies for the year, B is its income for the year from each trust of which it is a beneficiary, C is its income for the year from each partnership of which it is a member, D is the total of all amounts required by subsection 16(1) to be included in computing its income for the year, E is the total of all amounts required by paragraph 142.3(1)(a) to be included in computing its income for the year, and all amounts required by subsection 12(3) or 20(14) to be included in computing its income for the year except to the extent that those amounts are included in the computation of A, F is the amount determined by the formula V - W where V is the total of all amounts included under paragraph 56(1)(d) in computing its income for the year, and W is the total of all amounts deducted under paragraph 60(a) in computing its income for the year; and G is the total of all amounts each of which is an amount deemed by subparagraph 16(6)(a)(ii) to be paid by it in respect of the year as interest, or an amount deductible under paragraph 142.3(1)(b) in computing its income for the year;