Versions of s. 80.3(4)

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.

2014-12-16 to present available View Source

If in a taxation year a taxpayer carries on a farming business in a region that is at any time in the year a prescribed drought region or a prescribed region of flood or excessive moisture and the taxpayer’s breeding herd at the end of the year in respect of the business does not exceed 85% of the taxpayer’s breeding herd at the beginning of the year in respect of the business, there may be deducted in computing the taxpayer’s income from the business for the year the amount that the taxpayer claims, not exceeding the amount, if any, determined by the formula(A - B) × C where A is the amount by which the total of all amounts included in computing the taxpayer’s income for the year from the business in respect of the sale of breeding animals in the year exceeds the total of all amounts deducted under paragraph 20(1)(n) in computing the taxpayer’s income from the business for the year in respect of an amount referred to in paragraph (a) of this description; B is the total of all amounts deducted in computing the taxpayer’s income from the business for the year in respect of the acquisition of breeding animals; and C is 30% where the taxpayer’s breeding herd at the end of the year in respect of the business exceeds 70% of the taxpayer’s breeding herd at the beginning of the year in respect of the business, and 90% where the taxpayer’s breeding herd at the end of the year in respect of the business does not exceed 70% of the taxpayer’s breeding herd at the beginning of the year in respect of the business.

Full text

If in a taxation year a taxpayer carries on a farming business in a region that is at any time in the year a prescribed drought region or a prescribed region of flood or excessive moisture and the taxpayer’s breeding herd at the end of the year in respect of the business does not exceed 85% of the taxpayer’s breeding herd at the beginning of the year in respect of the business, there may be deducted in computing the taxpayer’s income from the business for the year the amount that the taxpayer claims, not exceeding the amount, if any, determined by the formula(A - B) × C where A is the amount by which the total of all amounts included in computing the taxpayer’s income for the year from the business in respect of the sale of breeding animals in the year exceeds the total of all amounts deducted under paragraph 20(1)(n) in computing the taxpayer’s income from the business for the year in respect of an amount referred to in paragraph (a) of this description; B is the total of all amounts deducted in computing the taxpayer’s income from the business for the year in respect of the acquisition of breeding animals; and C is 30% where the taxpayer’s breeding herd at the end of the year in respect of the business exceeds 70% of the taxpayer’s breeding herd at the beginning of the year in respect of the business, and 90% where the taxpayer’s breeding herd at the end of the year in respect of the business does not exceed 70% of the taxpayer’s breeding herd at the beginning of the year in respect of the business.
2009-12-15 to 2014-12-16 View Source

~~Where~~If in a taxation year a taxpayer carries on a farming business in a region that is ~~a prescribed drought region~~ at any time in the year a prescribed drought region or a prescribed region of flood or excessive moisture and the taxpayer’s breeding herd at the end of the year in respect of the business does not exceed 85% of the taxpayer’s breeding herd at the beginning of the year in respect of the business, there may be deducted in computing the taxpayer’s income from the business for the year ~~such~~the amount asthat the taxpayer claims, not exceeding the amount, if any, determined by the formula(A - B) × C where A is the amount by which the total of all amounts included in computing the taxpayer’s income for the year from the business in respect of the sale of breeding animals in the year exceeds the total of all amounts deducted under paragraph 20(1)(n) in computing the taxpayer’s income from the business for the year in respect of an amount referred to in paragraph (a) of this description; B is the total of all amounts deducted in computing the taxpayer’s income from the business for the year in respect of the acquisition of breeding animals; and C is 30% where the taxpayer’s breeding herd at the end of the year in respect of the business exceeds 70% of the taxpayer’s breeding herd at the beginning of the year in respect of the business, and 90% where the taxpayer’s breeding herd at the end of the year in respect of the business does not exceed 70% of the taxpayer’s breeding herd at the beginning of the year in respect of the business.

Full text

If in a taxation year a taxpayer carries on a farming business in a region that is at any time in the year a prescribed drought region or a prescribed region of flood or excessive moisture and the taxpayer’s breeding herd at the end of the year in respect of the business does not exceed 85% of the taxpayer’s breeding herd at the beginning of the year in respect of the business, there may be deducted in computing the taxpayer’s income from the business for the year the amount that the taxpayer claims, not exceeding the amount, if any, determined by the formula(A - B) × C where A is the amount by which the total of all amounts included in computing the taxpayer’s income for the year from the business in respect of the sale of breeding animals in the year exceeds the total of all amounts deducted under paragraph 20(1)(n) in computing the taxpayer’s income from the business for the year in respect of an amount referred to in paragraph (a) of this description; B is the total of all amounts deducted in computing the taxpayer’s income from the business for the year in respect of the acquisition of breeding animals; and C is 30% where the taxpayer’s breeding herd at the end of the year in respect of the business exceeds 70% of the taxpayer’s breeding herd at the beginning of the year in respect of the business, and 90% where the taxpayer’s breeding herd at the end of the year in respect of the business does not exceed 70% of the taxpayer’s breeding herd at the beginning of the year in respect of the business.
2004-08-31 to 2009-12-15 View Source

Where in a taxation year a taxpayer carries on a farming business in a region that is a prescribed drought region at any time in the year and the taxpayer’s breeding herd at the end of the year in respect of the business does not exceed 85% of the taxpayer’s breeding herd at the beginning of the year in respect of the business, there may be deducted in computing the taxpayer’s income from the business for the year such amount as the taxpayer claims, not exceeding the amount, if any, determined by the formula(A - B) × C where A is the amount by which the total of all amounts included in computing the taxpayer’s income for the year from the business in respect of the sale of breeding animals in the year exceeds the total of all amounts deducted under paragraph 20(1)(n) in computing the taxpayer’s income from the business for the year in respect of an amount referred to in paragraph (a) of this description; B is the total of all amounts deducted in computing the taxpayer’s income from the business for the year in respect of the acquisition of breeding animals; and C is 30% where the taxpayer’s breeding herd at the end of the year in respect of the business exceeds 70% of the taxpayer’s breeding herd at the beginning of the year in respect of the business, and 90% where the taxpayer’s breeding herd at the end of the year in respect of the business does not exceed 70% of the taxpayer’s breeding herd at the beginning of the year in respect of the business.