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I-3 - Taxation Act

Section 731
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731. A taxpayer may deduct, in a particular taxation year, up to the taxpayer’s income for the particular year from all farming businesses carried on by the taxpayer, the restricted farm losses sustained by the taxpayer
(a)  in the 10 taxation years that precede and in the three taxation years that follow the particular year if those losses are sustained in a taxation year that ends after 31 December 1983, but before 1 January 2006; and
(b)  in the 20 taxation years that precede and in the three taxation years that follow the particular year if those losses are sustained in a taxation year that ends after 31 December 2005.
1972, c. 23, s. 549; 1985, c. 25, s. 119; 2006, c. 36, s. 63.
731. A taxpayer may deduct his restricted farm losses for the 10 taxation years preceding the taxation year and for the three taxation years following the taxation year up to his income for the year from all farming businesses carried on by him.
1972, c. 23, s. 549; 1985, c. 25, s. 119.
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