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I-3 - Taxation Act

Section 484.9
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484.9. Where a property is seized at any time in a particular taxation year by a creditor in respect of a debt, for the purpose of computing the income of the creditor for the particular year,
(a)  the amount deducted by the creditor on account of a reserve under subparagraph b of the first paragraph of section 234 or under subparagraph a of the first paragraph of section 279 for the preceding taxation year in respect of a disposition of the property before the particular year is deemed to be equal to the amount by which the amount so deducted exceeds the aggregate of all amounts determined under subparagraphs a and b of the first paragraph of section 484.11 in respect of the seizure; and
(b)  the amount deducted under section 153 in computing the income of the creditor for the preceding taxation year in respect of any disposition of the property before the particular year is deemed to be the amount by which the amount so deducted exceeds the aggregate of all amounts determined under subparagraphs a and b of the first paragraph of section 484.11 in respect of the seizure.
1996, c. 39, s. 139; 2009, c. 5, s. 167; 2010, c. 5, s. 46.
484.9. Where a property is seized at any time in a particular taxation year by a creditor in respect of a debt, for the purpose of computing the income of the creditor for the particular year,
(a)  the amount claimed as a deduction by the creditor on account of a reserve under subparagraph b of the first paragraph of section 234 or under subparagraph a of the first paragraph of section 279 for the preceding taxation year in respect of a disposition of the property before the particular year is deemed to be equal to the amount by which the amount so claimed as a deduction exceeds the aggregate of all amounts determined under subparagraphs a and b of the first paragraph of section 484.11 in respect of the seizure; and
(b)  the amount deducted under section 153 in computing the income of the creditor for the preceding taxation year in respect of any disposition of the property before the particular year is deemed to be the amount by which the amount so deducted exceeds the aggregate of all amounts determined under subparagraphs a and b of the first paragraph of section 484.11 in respect of the seizure.
1996, c. 39, s. 139; 2009, c. 5, s. 167.
484.9. Where a property is seized at any time in a particular taxation year by a creditor in respect of a debt, for the purpose of computing the income of the creditor for the particular year,
(a)  the amount claimed by the creditor as a reserve under subparagraph b of the first paragraph of section 234 or under paragraph a of section 279 for the preceding taxation year in respect of any disposition before the particular year of the property is deemed to be the amount by which the amount so claimed exceeds the aggregate of all amounts determined under paragraphs a and b of section 484.11 in respect of the seizure; and
(b)  the amount deducted under section 153 in computing the income of the creditor for the preceding taxation year in respect of any disposition of the property before the particular year is deemed to be the amount by which the amount so deducted exceeds the aggregate of all amounts determined under paragraphs a and b of section 484.11 in respect of the seizure.
1996, c. 39, s. 139.
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