37.16.1. For the purposes of this division, the following rules apply: (a) for the purposes of the first paragraph of section 37.17, if an individual becomes a bankrupt, within the meaning of the Bankruptcy and Insolvency Act (R.S.C. 1985, c. B-3), in a year, the individual’s income for the year is deemed to be equal to the individual’s income determined under Part I of the Taxation Act (chapter I-3) for the taxation year that, under section 779 of that Act, is deemed to begin on the date of the bankruptcy; and
(b) an individual’s income for a particular year is reduced, if the individual so elects, by the portion, relating to one or more eligible preceding years of the individual, in relation to the particular year, of the aggregate of all amounts each of which is an amount described in the second paragraph that would otherwise be included in the individual’s income for the particular year, where the portion is at least $300.
The amount to which subparagraph b of the first paragraph refers is an amount received in the particular year as, or in lieu of, full or partial payment of
(a) income from an office or employment, under the terms of a court judgment, arbitration award or a contract by which the parties put an end to a lawsuit;
(a.1) an amount received in respect of the loss of all or part of an income from an office or employment, pursuant to an insurance plan, referred to in section 43 of the Taxation Act;
(b) a benefit under the Labour Adjustment Benefits Act (R.S.C. 1985, c. L-1), under the Employment Insurance Act (S.C. 1996, c. 23), under the Act respecting parental insurance (chapter A-29.011) or under the Act respecting the Québec Pension Plan (chapter R-9) or a similar plan within the meaning of that Act;
(c) an amount that is a support amount within the meaning of the first paragraph of section 312.3 of the Taxation Act or an amount referred to in the first paragraph of section 312.5 of that Act; or
(c.1) an earnings loss benefit, a supplementary retirement benefit or a permanent impairment allowance payable under Part 2 of the Canadian Forces Members and Veterans Re-establishment and Compensation Act (S.C. 2005, c. 21); or
(d) any other amount, other than income from an office or employment, that would be, in the opinion of the Minister, an additional undue tax burden on the individual were the individual to include it in computing income for the particular year in which it is received by the individual.