I-3 - Taxation Act

Section 668.3 Disposition versions

2015-10-21

668.3. For the purposes of sections 668 to 668.2, the net taxable capital gains of a trust for a taxation year are the amount determined by the formula

A + B - C - D.

In the formula in the first paragraph,

(a)  A is the aggregate of all amounts each of which is the taxable capital gain of the trust for the year from the disposition of a capital property that was held by the trust immediately before the disposition;

(b)  B is the aggregate of all amounts each of which is an amount deemed under section 668 to be a taxable capital gain of the trust for the year;

(c)  C is the aggregate of all amounts each of which is the allowable capital loss (other than an allowable business investment loss) of the trust for the year from the disposition of a capital property; and

(d)  D is the net capital losses deducted by the trust under section 729 in computing its taxable income for the year.

1987, c. 67, s. 130; 1989, c. 5, s. 78; 1990, c. 59, s. 234; 2015, c. 21, s. 218.

2006-03-01

668.3. For the purposes of sections 668 to 668.2, the net taxable capital gains of a trust for a taxation year is the amount, if any, by which the aggregate of the taxable capital gains of the trust for the year exceeds the aggregate of its allowable capital losses for the year and its net capital losses deducted under section 729 in computing its taxable income for the year.

1987, c. 67, s. 130; 1989, c. 5, s. 78; 1990, c. 59, s. 234.