Hyperlawhypertext legal database Income Tax Act

← Historical versions

Versions of s. 261(5)(a)

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. 2017-12-14 to present available View Source
    the taxpayer’s Canadian tax results for the particular taxation year are to be determined using the taxpayer’s elected functional currency;
    Full text

    the taxpayer’s Canadian tax results for the particular taxation year are to be determined using the taxpayer’s elected functional currency;

  2. 2009-03-12 to 2017-12-14 View Source
    subject to subparagraph (10)(b)(iii), in determining the amount (expressed in the taxpayer’s functionalCanadian currencytax results for the particular functional currency year) that may be deducted, or relevant in determining the amount that may be deducted, under subsection 37(1) or 66(4), section 110.1 or 111 or subsection 126(2), 127(5), 129(1), 181.1(4) or 190.1(3) in the particular functional currency year, each amount (determined in Canadian currency) that is relevant to the determination and that was determined for a taxation year of the taxpayer that preceded the initial functional currency year of the taxpayer, isare to be converteddetermined tousing the taxpayer’s functional currency for the particularelected functional currency year using the transitional exchange rate of the taxpayer;currency;
    Full text

    the taxpayer’s Canadian tax results for the particular taxation year are to be determined using the taxpayer’s elected functional currency;

  3. 2007-12-14 to 2009-03-12 View Source

    subject to subparagraph (10)(b)(iii), in determining the amount (expressed in the taxpayer’s functional currency for the particular functional currency year) that may be deducted, or relevant in determining the amount that may be deducted, under subsection 37(1) or 66(4), section 110.1 or 111 or subsection 126(2), 127(5), 129(1), 181.1(4) or 190.1(3) in the particular functional currency year, each amount (determined in Canadian currency) that is relevant to the determination and that was determined for a taxation year of the taxpayer that preceded the initial functional currency year of the taxpayer, is to be converted to the taxpayer’s functional currency for the particular functional currency year using the transitional exchange rate of the taxpayer;