I-3 - Taxation Act

Section 482 Disposition versions

2019-06-19

482. Where an amount in respect of a taxpayer’s expense that is a pension benefit, a retiring allowance, salary, wages or other remuneration in respect of an office or employment is unpaid on the day that is 180 days after the end of the taxation year in which the expense was incurred, for the purposes of this Part other than this section, the amount is deemed not to have been incurred as an expense in the year and is deemed to be incurred as an expense in the taxation year in which the amount is paid.

However, the first paragraph does not apply in respect of

(a)  reasonable vacation or holiday pay;

(b)  a deferred amount under a salary deferral arrangement; or

(c)  a salary, wages or other remuneration in respect of an office or employment where that expense of the taxpayer is taken into account for the purpose of determining, for a taxation year, the amount that the taxpayer may deduct in computing tax payable under Title III.4 or III.5 of Book V or that the taxpayer is deemed to have paid to the Minister on account of tax payable under Chapter III.1 of Title III of Book IX.

1972, c. 23, s. 382; 1988, c. 18, s. 47; 1993, c. 16, s. 194; 2019, c. 14, s. 133.

2006-03-01

482. Where an amount in respect of a taxpayer’s expense that is a pension benefit, a retiring allowance, salary, wages or other remuneration in respect of an office or employment is unpaid on the day that is 180 days after the end of the taxation year in which the expense was incurred, for the purposes of this Part other than this section, the amount is deemed not to have been incurred as an expense in the year and is deemed to be incurred as an expense in the taxation year in which the amount is paid.

The first paragraph does not apply in respect of reasonable vacation or holiday pay or of a deferred amount under a salary deferral arrangement.

1972, c. 23, s. 382; 1988, c. 18, s. 47; 1993, c. 16, s. 194.