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I-3 - Taxation Act

Section 733.0.7
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Full text
733.0.7. (Repealed).
2003, c. 9, s. 53; 2004, c. 21, s. 133; 2022, c. 23, s. 46.
733.0.7. For the purpose of determining the amount of the non-capital loss, farm loss, net capital loss or limited partnership loss for a taxation year of a corporation that, for that year, is a qualified corporation, within the meaning of the first paragraph of section 737.18.29, where the amount determined under subparagraph a of the second paragraph of section 737.18.33 in respect of the corporation for the year exceeds the amount determined under subparagraph b of that second paragraph in respect of the corporation for that year, the following rules apply:
(a)  75% of the amount that is the income or portion of the income of the corporation for the year, determined under subparagraph a of the second paragraph of section 737.18.33, is deemed to be nil; and
(b)  75% of the amount that is the loss or portion of the loss of the corporation for the year, determined under subparagraph b of the second paragraph of section 737.18.33, is deemed to be nil.
2003, c. 9, s. 53; 2004, c. 21, s. 133.
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