I-3 - Taxation Act

Section 752.0.27.1 Disposition versions

2009-05-15

752.0.27.1. For the purposes of sections 752.0.0.4 to 752.0.0.6, if an individual becomes a bankrupt in a calendar year and section 752.0.0.3 applies in respect of the individual for each of the individual’s taxation years referred to in section 779 that end in the calendar year, there shall be taken into account, as a covered benefit attributable to any of those taxation years, only an amount that is wholly attributable to that taxation year.

2005, c. 38, s. 160; 2009, c. 5, s. 298.

2006-03-01

752.0.27.1. If an individual becomes a bankrupt in a calendar year and section 752.0.0.3 applies in respect of the individual for each of the individual’s taxation years referred to in section 779 that end in the calendar year, the following rules apply:

(a)  for the purposes of sections 752.0.0.4 to 752.0.0.6, there shall be taken into account, as a covered benefit attributable to any of those taxation years, only an amount that is wholly attributable to that taxation year; and

(b)  for the purposes of subparagraph b of the third paragraph of section 752.0.0.3 in respect of such a year, no amount in dollars referred to in section 752.0.0.1 shall exceed the proportion of that amount that the number of days in that taxation year is of the number of days in the calendar year.

2005, c. 38, s. 160.