I-3 - Taxation Act

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6.1. If a corporation’s fiscal period referred to in the second or fourth paragraph of section 7 exceeds 365 days, otherwise than because of an election described in paragraph c of subsection 3.1 or 4 of section 249 of the Income Tax Act (R.S.C. 1985, c. 1 (5th Suppl.)), and for that reason the corporation does not have a taxation year that ends in a particular calendar year, for the purposes of this Part the corporation’s first taxation year ending in the calendar year that follows the particular calendar year is deemed to end on the last day of the particular calendar year.
1979, c. 18, s. 2; 1997, c. 3, s. 71; 2009, c. 5, s. 9.
6.1. Where the fiscal period of a corporation exceeds 365 days and by reason thereof the corporation does not have a taxation year that ends in a particular calendar year, for the purposes of this Part the corporation’s first taxation year ending in the immediately following calendar year is deemed to end on the last day of the particular calendar year.
1979, c. 18, s. 2; 1997, c. 3, s. 71.