I-3 - Taxation Act

Section 776.1.5.0.17 Disposition versions

2021-06-02

776.1.5.0.17. An eligible individual for a taxation year may deduct from the eligible individual’s tax otherwise payable for the year under this Part an amount equal to the lesser of

(a)  $3,000; and

(b)  the total of

i.  the lesser of

(1)  40% of the aggregate of all amounts each of which is the salary or wages of the individual for the year from any eligible employment of the individual, other than a specified employment, in respect of which the individual is an eligible individual for the year, and

(2)  the amount by which $8,000 exceeds the aggregate of all amounts each of which is an amount that the individual has deducted from the individual’s tax otherwise payable under this chapter or is deemed to have paid to the Minister on account of the individual’s tax payable under Division II.20 of Chapter III.1 of Title III of Book IX, as it read before being repealed, for a preceding taxation year, and

ii.  the lesser of

(1)  40% of the aggregate of all amounts each of which is the salary or wages of the individual for the year from any specified employment of the individual in respect of which the individual is an eligible individual for the year, and

(2)  the amount by which $10,000 exceeds the aggregate of all amounts each of which is either an amount that the individual has deducted from the individual’s tax otherwise payable under this chapter or is deemed to have paid to the Minister on account of the individual’s tax payable under Division II.20 of Chapter III.1 of Title III of Book IX, as it read before being repealed, for a preceding taxation year, or the amount determined for the year in accordance with subparagraph i.

2006, c. 36, s. 83; 2007, c. 12, s. 90; 2013, c. 10, s. 63; 2021, c. 14, s. 98.

2013-06-05

776.1.5.0.17. An eligible individual for a taxation year may deduct from the eligible individual’s tax otherwise payable for the year under this Part an amount equal to the lesser of

(a)  $3,000; and

(b)  the total of

i.  the lesser of

(1)  40% of the aggregate of all amounts each of which is the salary or wages of the individual for the year from any eligible employment of the individual, other than a specified employment, in respect of which the individual is an eligible individual for the year, and

(2)  the amount by which $8,000 exceeds the aggregate of all amounts each of which is an amount that the individual has deducted from the individual’s tax otherwise payable under this chapter or is deemed to have paid to the Minister on account of the individual’s tax payable under Division II.20 of Chapter III.1 of Title III of Book IX, for a preceding taxation year, and

ii.  the lesser of

(1)  40% of the aggregate of all amounts each of which is the salary or wages of the individual for the year from any specified employment of the individual in respect of which the individual is an eligible individual for the year, and

(2)  the amount by which $10,000 exceeds the aggregate of all amounts each of which is either an amount that the individual has deducted from the individual’s tax otherwise payable under this chapter or is deemed to have paid to the Minister on account of the individual’s tax payable under Division II.20 of Chapter III.1 of Title III of Book IX, for a preceding taxation year, or the amount determined for the year in accordance with subparagraph i.

2006, c. 36, s. 83; 2007, c. 12, s. 90; 2013, c. 10, s. 63.

2007-11-07

776.1.5.0.17. An eligible individual for a taxation year, in relation to an eligible employment, may deduct from the eligible individual’s tax otherwise payable for the year under this Part, an amount equal to the least of

(a)  40% of the aggregate of all amounts each of which is the salary or wages of the individual for the year from any eligible employment in respect of which the individual is an eligible individual for the year;

(b)  $3,000; and

(c)  the amount by which $8,000 exceeds the aggregate of all amounts each of which is an amount that the individual has deducted from the individual’s tax otherwise payable under this chapter or is deemed to have paid to the Minister on account of the individual’s tax payable under Division II.20 of Chapter III.1 of Title III of Book IX, for a preceding taxation year.

2006, c. 36, s. 83; 2007, c. 12, s. 90.

2006-12-06

776.1.5.0.17. An eligible individual for a taxation year, in relation to an eligible employment, may deduct from the eligible individual’s tax otherwise payable for the year under this Part, an amount equal to the least of

(a)  40 % of the aggregate of all amounts each of which is the salary or wages of the individual for the year from the eligible employment;

(b)  $3,000; and

(c)  the amount by which $8,000 exceeds the aggregate of all amounts each of which is an amount that the individual has deducted from the individual’s tax otherwise payable under this chapter or is deemed to have paid to the Minister on account of the individual’s tax payable under Division II.20 of Chapter III.1 of Title III of Book IX, for a preceding taxation year.

2006, c. 36, s. 83.