I-3 - Taxation Act

Section 737.18.0.1 Disposition versions

2022-06-08

737.18.0.1. (Repealed).

2002, c. 40, s. 58; 2021, c. 14, s. 70; 2022, c. 23, s. 52.

2021-06-02

737.18.0.1. For the purpose of computing the taxable income of an individual contemplated in section 737.16.1, for a taxation year, the following rules apply:

(a)  for the purpose of computing the deduction under section 725.2, the amount that is the benefit the individual is deemed to receive in the year under any of sections 49 and 50 to 52.1, either in respect of a security or of the transfer or any other disposition of the rights under the agreement referred to in section 48, or as a consequence of the individual’s death and of the individual’s having, immediately before death, owned a right to acquire a security under such an agreement, and that was included by the individual in computing the individual’s income for the year, does not include the part of such an amount included in the amount determined in respect of the individual for the year under section 71 of the Act respecting international financial centres (chapter C-8.3); and

(b)  for the purpose of computing the deduction under section 725.3, the amount of the benefit that the individual is deemed to receive under section 49, by virtue of section 49.2, in respect of a share acquired by the individual after 22 May 1985 and that was included by the individual in computing the individual’s income for the year, does not include the part of such an amount included in the amount determined in respect of the individual for the year under section 71 of the Act respecting international financial centres.

2002, c. 40, s. 58; 2021, c. 14, s. 70.

2006-03-01

737.18.0.1. For the purpose of computing the taxable income of an individual contemplated in section 737.16.1, for a taxation year, the following rules apply:

(a)  for the purpose of computing the deduction under section 725.2, the amount of the benefit that the individual is deemed to receive in the year, under any of sections 49 and 50 to 52.1, in respect of a security, or the transfer or any other disposition of the rights under the agreement referred to in section 48, and included by the individual in computing the individual’s income for the year, does not include the part of such an amount included in the amount determined in respect of the individual for the year under section 71 of the Act respecting international financial centres (chapter C-8.3);

(b)  for the purpose of computing the deduction under section 725.3, the amount of the benefit that the individual is deemed to receive under section 49, by virtue of section 49.2, in respect of a share acquired by the individual after 22 May 1985 and that was included by the individual in computing the individual’s income for the year, does not include the part of such an amount included in the amount determined in respect of the individual for the year under section 71 of the Act respecting international financial centres.

2002, c. 40, s. 58.