Versions of s. 138(18)

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.

2023-01-01 to present available View Source

If an amount has been included under subsection (16) in computing ~~a life~~an insurer’s income for its transition year from ~~a life~~an insurance business carried on by ~~it in Canada,~~it, there shall be deducted in computing the ~~life~~ insurer’s income, for each particular taxation year of the ~~life~~ insurer that ends after the beginning of the transition year, from that ~~life~~ insurance business, the amount determined by the formula A × B/1825 where A is the amount included under subsection (16) in computing the ~~life~~ insurer’s income for the transition year from that ~~life~~ 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.

Full text

If an amount has been included under subsection (16) in computing an insurer’s income for its transition year from an insurance business carried on by it, there shall be deducted 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 included under subsection (16) 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.
2017-12-14 to 2023-01-01 View Source

If an amount has been included under subsection (16) in computing a life insurer’s income for its transition year from a life insurance business carried on by it in Canada, there shall be deducted in computing the life insurer’s income, for each particular taxation year of the life insurer that ends after the beginning of the transition year, from that life insurance business, the amount determined by the formula A × B/1825 where A is the amount included under subsection (16) in computing the life insurer’s income for the transition year from that life 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.

Full text

If an amount has been included under subsection (16) in computing a life insurer’s income for its transition year from a life insurance business carried on by it in Canada, there shall be deducted in computing the life insurer’s income, for each particular taxation year of the life insurer that ends after the beginning of the transition year, from that life insurance business, the amount determined by the formula A × B/1825 where A is the amount included under subsection (16) in computing the life insurer’s income for the transition year from that life 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.
2009-03-12 to 2017-12-14 View Source

If an amount has been included under subsection (16) in computing a life insurer’s income for its transition year from a life insurance business carried on by it in Canada, there shall be deducted in computing the life insurer’s income, for each particular taxation year of the life insurer that ends after the beginning of the transition year, from that life insurance business, the amount determined by the formula A × B/1825 where A is the amount included under subsection (16) in computing the life insurer’s income for the transition year from that life 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.