Versions of s. 204.82(2.1)

Subject to subsection 204.82(2.2), a corporation’s investment shortfall at any time in a particular taxation year is the amount determined by the formula A - B - C where A is 60% of the lesser of the amount, if any, by which the amount of the shareholders’ equity in the corporation at the end of the preceding taxation year exceeds the specified adjustment in respect of the shareholders’ equity in the corporation at the end of that year, and the amount, if any, by which the amount of the shareholders’ equity in the corporation at the end of the particular taxation year exceeds the specified adjustment in respect of the shareholders’ equity in the corporation at the end of the particular year; B is the greater of the total of all amounts each of which is the adjusted cost to the corporation of an eligible investment of the corporation at that time, and 50% of the total of all amounts each of which is the adjusted cost to the corporation of an eligible investment of the corporation at the beginning of the particular year, or the adjusted cost to the corporation of an eligible investment of the corporation at the end of the particular year; and C is 60% of the amount, if any, by which the total of all amounts each of which is a tax or penalty under subsection (3) or (4), or a prescribed tax or penalty, paid before that time by the corporation (other than the portion, if any, of that tax or penalty the liability for which resulted in a reduction in the amount of the shareholders’ equity at the end of any preceding taxation year) exceeds the total of all amounts each of which is a refund before that time of any portion of the total described in paragraph (a).