I-3 - Taxation Act

Section 711.1 Disposition versions

2006-12-06

711.1. For the purpose of determining the amount deductible under section 710 in computing the taxable income of a corporation for a taxation year, the following rules apply:

(a)  an amount relating to a gift is deductible only to the extent that it exceeds amounts in respect of the gift deducted in computing the corporation’s taxable income for preceding taxation years; and

(b)  no amount in respect of a gift made in a particular taxation year is deductible under any of paragraphs a to e of section 710 until amounts deductible under that paragraph in respect of gifts made in taxation years preceding the particular year have been deducted.

1999, c. 83, s. 67; 2006, c. 36, s. 49.

2006-03-01

711.1. For the purpose of determining the amount deductible under section 710 in computing the taxable income of a corporation for a taxation year, the following rules apply:

(a)  an amount relating to a gift is deductible only to the extent that it exceeds amounts in respect of the gift deducted in computing the corporation’s taxable income for preceding taxation years; and

(b)  no amount in respect of a gift made in a particular taxation year is deductible under any of paragraphs a to d of section 710 until amounts deductible under that paragraph in respect of gifts made in taxation years preceding the particular year have been deducted.

1999, c. 83, s. 67.