Versions of s. 89(10)(b)

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.

2019-01-01 to present available View Source

in any other case, the amount determined by the formula A + B + C - D - E - F - G - H where A is the total of all amounts each of which is the cost amount to the subsidiary of a property immediately before the end of its last taxation year, B is the amount of any money of the subsidiary on hand immediately before the end of its last taxation year, C is the amount, if any, by which the total of all amounts that, if the subsidiary had had unlimited income for its last taxation year from each business carried on, and from each property held, by it in that last taxation year and had realized an unlimited amount of capital gains for that last taxation year, would have been deductible under subsection 111(1) in computing its taxable income for that last taxation year exceeds the total of all amounts deducted under subsection 111(1) in computing the subsidiary’s taxable income for its last taxation year, D is the total of all amounts each of which is the amount of any debt owing by the subsidiary, or of any other obligation of the subsidiary to pay any amount, that was outstanding immediately before the end of its last taxation year, E is the paid up capital, immediately before the end of its last taxation year, of all of the issued and outstanding shares of the capital stock of the subsidiary, F is the total of all amounts each of which is a reserve deducted in computing the subsidiary’s income for its last taxation year, G is if the parent is not a private corporation in the particular taxation year, the subsidiary’s capital dividend account, if any, immediately before the end of its last taxation year, and in any other case, nil, and H is the positive or negative amount determined by the formula I - J where I is the subsidiary’s general rate income pool at the end of its last taxation year, and J is the amount, if any, by which the total of all amounts each of which is an eligible dividend paid by the subsidiary in its last taxation year exceeds the total of all amounts each of which is an excessive eligible dividend designation made by the subsidiary in its last taxation year.

Full text

in any other case, the amount determined by the formula A + B + C - D - E - F - G - H where A is the total of all amounts each of which is the cost amount to the subsidiary of a property immediately before the end of its last taxation year, B is the amount of any money of the subsidiary on hand immediately before the end of its last taxation year, C is the amount, if any, by which the total of all amounts that, if the subsidiary had had unlimited income for its last taxation year from each business carried on, and from each property held, by it in that last taxation year and had realized an unlimited amount of capital gains for that last taxation year, would have been deductible under subsection 111(1) in computing its taxable income for that last taxation year exceeds the total of all amounts deducted under subsection 111(1) in computing the subsidiary’s taxable income for its last taxation year, D is the total of all amounts each of which is the amount of any debt owing by the subsidiary, or of any other obligation of the subsidiary to pay any amount, that was outstanding immediately before the end of its last taxation year, E is the paid up capital, immediately before the end of its last taxation year, of all of the issued and outstanding shares of the capital stock of the subsidiary, F is the total of all amounts each of which is a reserve deducted in computing the subsidiary’s income for its last taxation year, G is if the parent is not a private corporation in the particular taxation year, the subsidiary’s capital dividend account, if any, immediately before the end of its last taxation year, and in any other case, nil, and H is the positive or negative amount determined by the formula I - J where I is the subsidiary’s general rate income pool at the end of its last taxation year, and J is the amount, if any, by which the total of all amounts each of which is an eligible dividend paid by the subsidiary in its last taxation year exceeds the total of all amounts each of which is an excessive eligible dividend designation made by the subsidiary in its last taxation year.
2007-02-21 to 2019-01-01 View Source

in any other case, the amount determined by the formula A + B + C - D - E - F - G - H where A is the total of all amounts each of which is the cost amount to the subsidiary of a property immediately before the end of its last taxation year, B is the amount of any money of the subsidiary on hand immediately before the end of its last taxation year, C is the amount, if any, by which the total of all amounts that, if the subsidiary had had unlimited income for its last taxation year from each business carried on, and from each property held, by it in that last taxation year and had realized an unlimited amount of capital gains for that last taxation year, would have been deductible under subsection 111(1) in computing its taxable income for that last taxation year exceeds the total of all amounts deducted under subsection 111(1) in computing the subsidiary’s taxable income for its last taxation year, D is the total of all amounts each of which is the amount of any debt owing by the subsidiary, or of any other obligation of the subsidiary to pay any amount, that was outstanding immediately before the end of its last taxation year, E is the paid up capital, immediately before the end of its last taxation year, of all of the issued and outstanding shares of the capital stock of the subsidiary, F is the total of all amounts each of which is a reserve deducted in computing the subsidiary’s income for its last taxation year, G is if the parent is not a private corporation in the particular taxation year, the subsidiary’s capital dividend account, if any, immediately before the end of its last taxation year, and in any other case, nil, and H is the positive or negative amount determined by the formula I - J where I is the subsidiary’s general rate income pool at the end of its last taxation year, and J is the amount, if any, by which the total of all amounts each of which is an eligible dividend paid by the subsidiary in its last taxation year exceeds the total of all amounts each of which is an excessive eligible dividend designation made by the subsidiary in its last taxation year.