Versions of s. 89(1), definition “adjusted taxable income”

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.

2019-01-01 to present available View Source

adjusted taxable income of a corporation for a taxation year is the amount determined by the formula A – B – C where A is unless paragraph (b) applies, the corporation’s taxable income for the taxation year, and if the corporation is a deposit insurance corporation in the taxation year, nil, B is the amount determined by multiplying the amount, if any, deducted by the corporation under subsection 125(1) for the taxation year by the quotient obtained by dividing 100 by the rate of the deduction provided under that subsection for the taxation year, and C is if the corporation is a Canadian-controlled private corporation in the taxation year, the lesser of the corporation’s aggregate investment income for the taxation year and the corporation’s taxable income for the taxation year, and in any other case, nil; (revenu imposable rajusté)

Full text

adjusted taxable income of a corporation for a taxation year is the amount determined by the formula A – B – C where A is unless paragraph (b) applies, the corporation’s taxable income for the taxation year, and if the corporation is a deposit insurance corporation in the taxation year, nil, B is the amount determined by multiplying the amount, if any, deducted by the corporation under subsection 125(1) for the taxation year by the quotient obtained by dividing 100 by the rate of the deduction provided under that subsection for the taxation year, and C is if the corporation is a Canadian-controlled private corporation in the taxation year, the lesser of the corporation’s aggregate investment income for the taxation year and the corporation’s taxable income for the taxation year, and in any other case, nil; (revenu imposable rajusté)
2016-06-22 to 2019-01-01 View Source

adjusted taxable income of a corporation for a taxation year is the amount determined by the formula A – B – C where A is unless paragraph (b) applies, the corporation’s taxable income for the taxation year, and if the corporation is a deposit insurance corporation in the taxation year, nil, B is the amount determined by multiplying the amount, if any, deducted by the corporation under subsection 125(1) for the taxation year by the quotient obtained by dividing 100 by the rate of the deduction provided under that subsection for the taxation year, and C is if the corporation is a Canadian-controlled private corporation in the taxation year, the lesser of the corporation’s aggregate investment income for the taxation year and the corporation’s taxable income for the taxation year, and in any other case, nil; (revenu imposable rajusté)

Full text

adjusted taxable income of a corporation for a taxation year is the amount determined by the formula A – B – C where A is unless paragraph (b) applies, the corporation’s taxable income for the taxation year, and if the corporation is a deposit insurance corporation in the taxation year, nil, B is the amount determined by multiplying the amount, if any, deducted by the corporation under subsection 125(1) for the taxation year by the quotient obtained by dividing 100 by the rate of the deduction provided under that subsection for the taxation year, and C is if the corporation is a Canadian-controlled private corporation in the taxation year, the lesser of the corporation’s aggregate investment income for the taxation year and the corporation’s taxable income for the taxation year, and in any other case, nil; (revenu imposable rajusté)
2009-03-12 to 2016-06-22 View Source

adjusted taxable income of a corporation for a taxation year is the amount determined by the formula A – B – C where A is unless paragraph (b) applies, the corporation’s taxable income for the taxation year, and if the corporation is a deposit insurance corporation in the taxation year, nil, B is the amount determined by multiplying the amount, if any, deducted by the corporation under subsection 125(1) for the taxation year by the quotient obtained by dividing 100 by the rate of the deduction provided under that subsection for the taxation year, and C is if the corporation is a Canadian-controlled private corporation in the taxation year, the lesser of the corporation’s aggregate investment income for the taxation year and the corporation’s taxable income for the taxation year, and in any other case, nil;