I-3 - Taxation Act

Section 217.5 Disposition versions

2015-10-26

217.5. (Repealed).

1997, c. 31, s. 27; 2015, c. 24, s. 42.

2006-03-01

217.5. For the purposes of Division VIII.2, where at the end of the year 1994 an individual carried on a particular business no fiscal period of which ended at that time, and an amount is included under section 217.2 in computing the individual’s income for the individual’s taxation year 1995 in respect of the particular business or another business that would, if section 217.12 applied for the purposes of this section, be included in the particular business, the individual’s income on 31 December 1995 in respect of the particular business or the other business, as the case may be, is deemed, subject to section 217.8, to be equal to the amount that would have been included in computing the individual’s income under section 217.2 if

(a)  subparagraph a of the second paragraph of section 217.2 were read as follows:

“(a) A is the total of the individual’s income from the business for the fiscal periods of the business that end in the year, determined as if paragraphs a to d of section 217.11 applied in computing that income;”; and

(b)  subparagraph ii of subparagraph b of the second paragraph of section 217.2 were read as follows:

“ii. the aggregate of the maximum amounts deductible under the said Title VI.5 in computing the individual’s taxable income for the year;”.

1997, c. 31, s. 27.