I-3 - Taxation Act

Section 85.5 Disposition versions

2009-05-15

85.5. Despite section 83, for the purpose of computing the income of an individual other than a trust for a taxation year from an artistic endeavour, the value of the property in the individual’s inventory for the year is deemed to be nil if the individual makes, in relation to the year, a valid election under subsection 6 of section 10 of the Income Tax Act (R.S.C. 1985, c. 1 (5th Suppl.)) after 19 December 2006 in respect of the artistic endeavour.

Chapter V.2 of Title II of Book I applies in relation to an election made under subsection 6 of section 10 of the Income Tax Act or in relation to an election made under this section before 20 December 2006.

1987, c. 67, s. 18; 2009, c. 5, s. 49.

2006-03-01

85.5. Notwithstanding section 83, for the purpose of computing the income of an individual other than a trust for a taxation year from an artistic endeavour, the value of his property in inventory for that year is, if the individual so elects in his fiscal return under this Part for the year, deemed to be nil.

1987, c. 67, s. 18.