Versions of s. 142.51(5)

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.

2023-01-01 to present available View Source

If an amount has been deducted under subsection (3) in computing a taxpayer’s income for its transition year, there shall be included in computing the taxpayer’s income, for each particular taxation year of the taxpayer ending after the beginning of the transition year, and in which particular taxation year the taxpayer is aan ~~financial institution,~~insurer, the amount determined by the formula A × B/1825 where A is the amount deducted under subsection (3) in computing the taxpayer’s income for the transition year; 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 deducted under subsection (3) in computing a taxpayer’s income for its transition year, there shall be included in computing the taxpayer’s income, for each particular taxation year of the taxpayer ending after the beginning of the transition year, and in which particular taxation year the taxpayer is an insurer, the amount determined by the formula A × B/1825 where A is the amount deducted under subsection (3) in computing the taxpayer’s income for the transition year; 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 2023-01-01 View Source

If an amount has been deducted under subsection (3) in computing a taxpayer’s income for its transition year, there shall be included in computing the taxpayer’s income, for each particular taxation year of the taxpayer ending after the beginning of the transition year, and in which particular taxation year the taxpayer is a financial institution, the amount determined by the formula A × B/1825 where A is the amount deducted under subsection (3) in computing the taxpayer’s income for the transition year; 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.