Versions of s. 138(26)(b)

I-3.3 — Income Tax Act · 2 versions

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

2017-12-14 to 2023-01-01 View Source

if one or more of those subsections applies in the same taxation year in respect of both the amendment to paragraph 1406(b) of the Income Tax Regulations effective as of the life insurer’s 2012 taxation year, and the International Financial Reporting Standards adopted by the Accounting Standards Board and effective as of January 1, 2011, then, for the purposes of applying those subsections in respect of a transition year described by paragraph (b) of the definition transition year in subsection (12), the reference to “as it reads in respect of its transition year” in paragraph (b) of the description of A in the definition reserve transition amount in subsection (12) is to be read as a reference to “as it reads in respect of its transition year (determined without reference to the amendment to paragraph 1406(b) of the Income Tax Regulations effective as of the life insurer’s 2012 taxation year); and

Full text

if one or more of those subsections applies in the same taxation year in respect of both the amendment to paragraph 1406(b) of the Income Tax Regulations effective as of the life insurer’s 2012 taxation year, and the International Financial Reporting Standards adopted by the Accounting Standards Board and effective as of January 1, 2011, then, for the purposes of applying those subsections in respect of a transition year described by paragraph (b) of the definition transition year in subsection (12), the reference to “as it reads in respect of its transition year” in paragraph (b) of the description of A in the definition reserve transition amount in subsection (12) is to be read as a reference to “as it reads in respect of its transition year (determined without reference to the amendment to paragraph 1406(b) of the Income Tax Regulations effective as of the life insurer’s 2012 taxation year); and
2013-06-26 to 2017-12-14 View Source

if one or more of those subsections applies in the same taxation year in respect of both the amendment to paragraph 1406(b) of the Income Tax Regulations effective as of the life insurer’s 2012 taxation year, and the International Financial Reporting Standards adopted by the Accounting Standards Board and effective as of January 1, 2011, then, for the purposes of applying those subsections in respect of a transition year described by paragraph (b) of the definition transition year in subsection (12), the reference to “as it reads in respect of its transition year” in paragraph (b) of the description of A in the definition reserve transition amount in subsection (12) is to be read as a reference to “as it reads in respect of its transition year (determined without reference to the amendment to paragraph 1406(b) of the Income Tax Regulations effective as of the life insurer’s 2012 taxation year); and