I-3 - Taxation Act

Section 808 Disposition versions

2009-05-15

808. Unless otherwise provided for in this Title, a deposit insurance corporation must, for the purposes of computing its income for a taxation year, comply with the rules provided for that purpose in this Part and must include or may deduct the amounts determined in this chapter.

The following amounts must not be included in computing the income of a deposit insurance corporation for a taxation year:

(a)  any premium or assessment received, or receivable, by the corporation in the year from a member institution; and

(b)  any amount received by the corporation in the year from another deposit insurance corporation to the extent that that amount can reasonably be considered to have been paid out of amounts referred to in paragraph a received by that other deposit insurance corporation in any taxation year.

1975, c. 22, s. 218; 1984, c. 15, s. 182; 1997, c. 3, s. 71; 2009, c. 5, s. 345.

2006-03-01

808. Unless otherwise provided for in this Title, a deposit insurance corporation must, for the purposes of computing its income for a taxation year, comply with the rules provided for that purpose in this Part and must include or may deduct the amounts determined in this chapter.

No amount shall however be included in such computation with regard to a premium or any other assessment it receives or receivable by it from a member institution during the year.

1975, c. 22, s. 218; 1984, c. 15, s. 182; 1997, c. 3, s. 71.