Versions of s. 34.1(1)

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.

2014-12-16 to present available View Source

Where(A - B) × C/D where A is the total of the individual’s income from the business for the fiscal periods of the business that end in the year, B is the lesser of the total of all amounts each of which is an amount included in the value of A in respect of the business and that is deemed to be a taxable capital gain for the purpose of section 110.6, and the total of all amounts deducted under section 110.6 in computing the individual’s taxable income for the year, C is the number of days on which the individual carries on the business that are both in the year and in the particular period, and D is the number of days on which the individual carries on the business that are in fiscal periods of the business that end in the year.

Full text

Where(A - B) × C/D where A is the total of the individual’s income from the business for the fiscal periods of the business that end in the year, B is the lesser of the total of all amounts each of which is an amount included in the value of A in respect of the business and that is deemed to be a taxable capital gain for the purpose of section 110.6, and the total of all amounts deducted under section 110.6 in computing the individual’s taxable income for the year, C is the number of days on which the individual carries on the business that are both in the year and in the particular period, and D is the number of days on which the individual carries on the business that are in fiscal periods of the business that end in the year.
2004-08-31 to 2014-12-16 View Source

Where(A - B) × C/D where A is the total of the individual’s income from the business for the fiscal periods of the business that end in the year, B is the lesser of the total of all amounts each of which is an amount included in the value of A in respect of the business and that is deemed to be a taxable capital gain for the purpose of section 110.6, and the total of all amounts deducted under section 110.6 in computing the individual’s taxable income for the year, C is the number of days on which the individual carries on the business that are both in the year and in the particular period, and D is the number of days on which the individual carries on the business that are in fiscal periods of the business that end in the year.