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I-3 - Taxation Act
Section 985.20
Disposition versions
985.20. Where a registered charity has expended a disbursement excess for a taxation year, the charity may, for the purpose of determining whether it complies with the requirements of paragraph b of section 985.6 or 985.7 or subparagraph b of the first paragraph of section 985.8, as the case may be, for the immediately preceding taxation year of the charity and five or less of its immediately subsequent taxation years, include, in computing the amounts expended on charitable activities carried on by it or by way of gifts made by it that are qualifying disbursements, such portion of the disbursement excess for that year as was not so included under this section for a preceding taxation year.
985.20. Where a registered charity has expended a disbursement excess for a taxation year, the charity may, for the purpose of determining whether it complies with the requirements of paragraph b of section 985.6 or 985.7 or subparagraph b of the first paragraph of section 985.8, as the case may be, for the immediately preceding taxation year of the charity and five or less of its immediately subsequent taxation years, include, in computing the amounts expended for charitable activities carried on by it and by way of gifts made by it to qualified donees, such portion of the disbursement excess for that taxation year as was not so included under this section for a previous taxation year.
985.20. Where a registered charity has expended a disbursement excess for a taxation year, the charity may, for the purpose of determining whether it has complied with the requirements of paragraph b of section 985.6, 985.7 or 985.8, as the case may be, for the immediately preceding taxation year of the charity and 5 or less of its immediately subsequent taxation years, include in the computation of the amounts expended for charitable activities carried on by it and by way of gifts made by it to qualified donees, such portion of the disbursement excess for that taxation year as was not so included under this section for a previous taxation year.
