Hyperlawhypertext legal database Income Tax Act

← Historical versions

Versions of s. 8(1)(s)

I-3.3 — Income Tax Act · 4 versions · View current text

Historical text comes from the Justice Laws point-in-time corpus and is unofficial — not the official version.

  1. 2023-06-22 to present available View Source
    if the taxpayer is employed as a trades­persontradesperson at any time in the taxation year, the lesser of $500$1,000 and the amount determined by the formula A - $1,000 where A is the lesser of the total of all amounts each of which is the cost of an eligible tool acquired by the taxpayer in the year, and the total of the amount that would, if this subsection were read without reference to this paragraph, be the taxpayer’s income for the taxation year from employment as a trades­person in the taxation year, and the amount, if any, by which the amount required by paragraph 56(1)(n.1) to be included in computing the taxpayer’s income for the taxation year exceeds the amount required by paragraph 60(p) to be deducted in computing that income; and
    Full text

    if the taxpayer is employed as a tradesperson at any time in the taxation year, the lesser of $1,000 and the amount determined by the formula A - $1,000 where A is the lesser of the total of all amounts each of which is the cost of an eligible tool acquired by the taxpayer in the year, and the total of the amount that would, if this subsection were read without reference to this paragraph, be the taxpayer’s income for the taxation year from employment as a trades­person in the taxation year, and the amount, if any, by which the amount required by paragraph 56(1)(n.1) to be included in computing the taxpayer’s income for the taxation year exceeds the amount required by paragraph 60(p) to be deducted in computing that income; and

  2. 2022-06-23 to 2023-06-22 View Source
    if the taxpayer is employed as a trades­person at any time in the taxation year, the lesser of $500 and the amount determined by the formula A - $1,000 where A is the lesser of the total of all amounts each of which is the cost of an eligible tool acquired by the taxpayer in the year, and the total of the amount that would, if this subsection were read without reference to this paragraph, be the taxpayer’s income for the taxation year from employment as a trades­person in the taxation year, and the amount, if any, by which the amount required by paragraph 56(1)(n.1) to be included in computing the taxpayer’s income for the taxation year exceeds the amount required by paragraph 60(p) to be deducted in computing that income.income; and
    Full text

    if the taxpayer is employed as a trades­person at any time in the taxation year, the lesser of $500 and the amount determined by the formula A - $1,000 where A is the lesser of the total of all amounts each of which is the cost of an eligible tool acquired by the taxpayer in the year, and the total of the amount that would, if this subsection were read without reference to this paragraph, be the taxpayer’s income for the taxation year from employment as a trades­person in the taxation year, and the amount, if any, by which the amount required by paragraph 56(1)(n.1) to be included in computing the taxpayer’s income for the taxation year exceeds the amount required by paragraph 60(p) to be deducted in computing that income; and

  3. 2013-06-26 to 2022-06-23 View Source
    if the taxpayer is employed as a trades­person at any time in the taxation year, the lesser of $500 and the amount determined by the formula A - $1,000 where A is the lesser of the total of all amounts each of which is the cost of an eligible tool acquired by the taxpayer in the year, and the total of the amount that would, if this subsection were read without reference to this paragraph, be the taxpayer’s income for the taxation year from employment as a trades­person in the taxation year, and the amount, if any, by which the amount required by paragraph 56(1)(n.1) to be included in computing the taxpayer’s income for the taxation year exceeds the amount required by paragraph 60(p) to be deducted in computing that income.
    Full text

    if the taxpayer is employed as a trades­person at any time in the taxation year, the lesser of $500 and the amount determined by the formula A - $1,000 where A is the lesser of the total of all amounts each of which is the cost of an eligible tool acquired by the taxpayer in the year, and the total of the amount that would, if this subsection were read without reference to this paragraph, be the taxpayer’s income for the taxation year from employment as a trades­person in the taxation year, and the amount, if any, by which the amount required by paragraph 56(1)(n.1) to be included in computing the taxpayer’s income for the taxation year exceeds the amount required by paragraph 60(p) to be deducted in computing that income.

  4. 2007-02-21 to 2013-06-26 View Source

    if the taxpayer is employed as a trades­person at any time in the taxation year, the lesser of $500 and the amount determined by the formula A - $1,000 where A is the lesser of the total of all amounts each of which is the cost of an eligible tool acquired by the taxpayer in the year, and the total of the amount that would, if this subsection were read without reference to this paragraph, be the taxpayer’s income for the taxation year from employment as a trades­person in the taxation year, and the amount, if any, by which the amount required by paragraph 56(1)(n.1) to be included in computing the taxpayer’s income for the taxation year exceeds the amount required by paragraph 60(p) to be deducted in computing that income.