Versions of s. 67.3(d)

the amount determined by the formula(A × B)/0.85C - D - E where A is the total of the actual lease charges in respect of the lease incurred in respect of the year or the total of the actual lease charges in respect of the lease paid in the year (depending on the method regularly followed by the taxpayer in computing income), B is $20,000 or such other amount as is prescribed, C is the greater of $23,529 (or such other amount as is prescribed) and the manufacturer’s list price for the vehicle, D is the amount of interest that would be earned on that part of the total of all refundable amounts paid in respect of the lease that exceeds $1,000 if interest were payable on the refundable amounts at the prescribed rate, and computed for the period in the year during which the refundable amounts are outstanding, and E is the total of all reimbursements that became receivable during the year by the taxpayer in respect of the lease.