Versions of s. 94(15)(c)(iii)

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.

2017-12-14 to present available View Source

if the trust is liable for tax for its assessment year, then throughout the period that begins at the trust’s balance-due day for each taxation year that ends in the interest gross-up period and ends at the balance-due day for its assessment year, the trust is (in addition to any excess otherwise determined in respect of the trust under that subsection) deemed to have an excess for the purposes of subsection 161(1) equal to the amount determined by the formula A/B × 42.92%where A is the amount determined under subparagraph (ii) in respect of the trust for the particular taxation year, and B is the number of the trust’s taxation years that end in the interest gross-up period.

Full text

if the trust is liable for tax for its assessment year, then throughout the period that begins at the trust’s balance-due day for each taxation year that ends in the interest gross-up period and ends at the balance-due day for its assessment year, the trust is (in addition to any excess otherwise determined in respect of the trust under that subsection) deemed to have an excess for the purposes of subsection 161(1) equal to the amount determined by the formula A/B × 42.92%where A is the amount determined under subparagraph (ii) in respect of the trust for the particular taxation year, and B is the number of the trust’s taxation years that end in the interest gross-up period.
2013-06-26 to 2017-12-14 View Source

if the trust is liable for tax for its assessment year, then throughout the period that begins at the trust’s balance-due day for each taxation year that ends in the interest gross-up period and ends at the balance-due day for its assessment year, the trust is (in addition to any excess otherwise determined in respect of the trust under that subsection) deemed to have an excess for the purposes of subsection 161(1) equal to the amount determined by the formula A/B × 42.92%where A is the amount determined under subparagraph (ii) in respect of the trust for the particular taxation year, and B is the number of the trust’s taxation years that end in the interest gross-up period.