I-3 - Taxation Act

Section 217.11 Disposition versions

2015-10-26

217.11. (Repealed).

1997, c. 31, s. 27; 2015, c. 24, s. 43.

2006-03-01

217.11. For the purposes of the definition of “income on 31 December 1995” in the first paragraph of section 217.10, a taxpayer’s income or loss from a business for a qualifying fiscal period shall be computed as if

(a)  this Part were read without reference to subparagraph b of the second paragraph of section 194;

(b)  the taxpayer had made the election referred to in section 215 in respect of the business for the qualifying fiscal period;

(c)  the maximum amount deductible in respect of any reserve, allowance or other amount were deducted in computing the taxpayer’s income; and

(d)  the taxpayer had not received any taxable dividend.

1997, c. 31, s. 27.