Versions of s. 66.4(2)(c)

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.

2026-03-26 to present available View Source

the amount determined by the formula A(B − C) where A is for taxation years that end before 2024, 5%, for taxation years that begin before 2024 and end after 2023, the amount determined by the formula 0.05(I/J) + 0.025(K/J) where I is the total of all accelerated Canadian oil and gas property expenses incurred by the taxpayer before 2024 and in the taxation year, J is the total of all accelerated Canadian oil and gas property expenses incurred by the taxpayer in the taxation year, and K is the total of all accelerated Canadian oil and gas property expenses incurred by the taxpayer after 2023 and in the taxation year, and for taxation years that begin after 2023, 2.5%, B is the total of all accelerated Canadian oil and gas property expenses incurred by the taxpayer in the taxation year, and C is the amount determined by the formula(D − E) − (F − G − H) where D is the total of the amounts determined for E to J in the definition cumulative Canadian oil and gas property expense in subsection (5) at the end of the taxation year, E is the total of the amounts determined for E to J in the definition cumulative Canadian oil and gas property expense in subsection (5) at the beginning of the taxation year, F is the total of the amounts determined for A to D.1 in the definition cumulative Canadian oil and gas property expense in subsection (5) at the end of the taxation year, G is the total of the amounts determined for A to D.1 in the definition cumulative Canadian oil and gas property expense in subsection (5) at the end of the preceding taxation year, and H is the amount determined for B.B, and

Full text

the amount determined by the formula A(B − C) where A is for taxation years that end before 2024, 5%, for taxation years that begin before 2024 and end after 2023, the amount determined by the formula 0.05(I/J) + 0.025(K/J) where I is the total of all accelerated Canadian oil and gas property expenses incurred by the taxpayer before 2024 and in the taxation year, J is the total of all accelerated Canadian oil and gas property expenses incurred by the taxpayer in the taxation year, and K is the total of all accelerated Canadian oil and gas property expenses incurred by the taxpayer after 2023 and in the taxation year, and for taxation years that begin after 2023, 2.5%, B is the total of all accelerated Canadian oil and gas property expenses incurred by the taxpayer in the taxation year, and C is the amount determined by the formula(D − E) − (F − G − H) where D is the total of the amounts determined for E to J in the definition cumulative Canadian oil and gas property expense in subsection (5) at the end of the taxation year, E is the total of the amounts determined for E to J in the definition cumulative Canadian oil and gas property expense in subsection (5) at the beginning of the taxation year, F is the total of the amounts determined for A to D.1 in the definition cumulative Canadian oil and gas property expense in subsection (5) at the end of the taxation year, G is the total of the amounts determined for A to D.1 in the definition cumulative Canadian oil and gas property expense in subsection (5) at the end of the preceding taxation year, and H is the amount determined for B, and
2019-06-21 to 2026-03-26 View Source

the amount determined by the formula A(B − C) where A is for taxation years that end before 2024, 5%, for taxation years that begin before 2024 and end after 2023, the amount determined by the formula 0.05(I/J) + 0.025(K/J) where I is the total of all accelerated Canadian oil and gas property expenses incurred by the taxpayer before 2024 and in the taxation year, J is the total of all accelerated Canadian oil and gas property expenses incurred by the taxpayer in the taxation year, and K is the total of all accelerated Canadian oil and gas property expenses incurred by the taxpayer after 2023 and in the taxation year, and for taxation years that begin after 2023, 2.5%, B is the total of all accelerated Canadian oil and gas property expenses incurred by the taxpayer in the taxation year, and C is the amount determined by the formula(D − E) − (F − G − H) where D is the total of the amounts determined for E to J in the definition cumulative Canadian oil and gas property expense in subsection (5) at the end of the taxation year, E is the total of the amounts determined for E to J in the definition cumulative Canadian oil and gas property expense in subsection (5) at the beginning of the taxation year, F is the total of the amounts determined for A to D.1 in the definition cumulative Canadian oil and gas property expense in subsection (5) at the end of the taxation year, G is the total of the amounts determined for A to D.1 in the definition cumulative Canadian oil and gas property expense in subsection (5) at the end of the preceding taxation year, and H is the amount determined for B.