Versions of s. 14(5), definition “exempt gains balance”

exempt gains balance of an individual in respect of a business of the individual for a taxation year means the amount determined by the formula A - B where A is the lesser of the amount by which the amount that would have been the individual’s taxable capital gain determined under paragraph 110.6(19)(b) in respect of the business if the amount designated in an election under subsection 110.6(19) in respect of the business were equal to the fair market value at the end of February 22, 1994 of all the eligible capital property owned by the elector at that time in respect of the business, and this Act were read without reference to subsection 110.6(20) exceeds the amount determined by the formula 0.75(C - 1.1D) where C is the amount designated in the election that was made under subsection 110.6(19) in respect of the business, and D is the fair market value at the end of February 22, 1994 of the property referred to in clause 14(5)(a)(i)(A), and the individual’s taxable capital gain determined under paragraph 110.6(19)(b) in respect of the business, and B is the total of all amounts each of which is the amount determined for D in subparagraph (1)(a)(v) in respect of the business for a preceding taxation year that ended before February 28, 2000 or the amount determined for D in paragraph (1)(b) for a preceding taxation year that ended after February 27, 2000.