Hyperlawhypertext legal database Income Tax Act

← Historical versions

Versions of s. 20(1)(l)(ii)(D)(II)

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.

  1. 2023-06-22 to present available View Source
    the amount determined by the formula 0.9M - N where M is the amount that is the taxpayer’s reserve or allowance for impairment (other than any portion of the amount that is in respect of a sectoral reserve) for all loans that is determined for the year in accordance with generally accepted accounting principles, and N is the total of all amounts each of which is the specified reserve adjustment for a loan (other than an income bond,bond or an income debenture, a small business bond or small business development bond)debenture) for the year or a preceding taxation year;
    Full text

    the amount determined by the formula 0.9M - N where M is the amount that is the taxpayer’s reserve or allowance for impairment (other than any portion of the amount that is in respect of a sectoral reserve) for all loans that is determined for the year in accordance with generally accepted accounting principles, and N is the total of all amounts each of which is the specified reserve adjustment for a loan (other than an income bond or an income debenture) for the year or a preceding taxation year;

  2. 2017-12-14 to 2023-06-22 View Source
    the amount determined by the formula 0.9M - N where M is the amount that is the taxpayer’s reserve or allowance for impairment (other than any portion of the amount that is in respect of a sectoral reserve) for all loans that is determined for the year in accordance with generally accepted accounting principles, and N is the total of all amounts each of which is the specified reserve adjustment for a loan (other than an income bond, an income debenture, a small business bond or small business development bond) for the year or a preceding taxation year;
    Full text

    the amount determined by the formula 0.9M - N where M is the amount that is the taxpayer’s reserve or allowance for impairment (other than any portion of the amount that is in respect of a sectoral reserve) for all loans that is determined for the year in accordance with generally accepted accounting principles, and N is the total of all amounts each of which is the specified reserve adjustment for a loan (other than an income bond, an income debenture, a small business bond or small business development bond) for the year or a preceding taxation year;

  3. 2004-08-31 to 2017-12-14 View Source

    the amount determined by the formula 0.9M - N where M is the amount that is the taxpayer’s reserve or allowance for impairment (other than any portion of the amount that is in respect of a sectoral reserve) for all loans that is determined for the year in accordance with generally accepted accounting principles, and N is the total of all amounts each of which is the specified reserve adjustment for a loan (other than an income bond, an income debenture, a small business bond or small business development bond) for the year or a preceding taxation year;