I-3, r. 1 - Regulation respecting the Taxation Act

Section 851.22.18r6 Disposition versions

2017-04-12

851.22.18R6. (Revoked).

O.C. 390-2012, s. 64; O.C. 321-2017, s. 42.

2012-09-01

851.22.18R6. If a taxpayer ceases at any time to be a financial institution otherwise than because it ceases to carry on a business, the following rules apply:

(a)  the amount prescribed for the purposes of section 851.22.18 of the Act in respect of the taxpayer for its taxation year that ended immediately before that time is the amount, if any, by which the taxpayer’s transition deduction exceeds the total of the amounts included under section 851.22.18 of the Act in computing the taxpayer’s income for preceding taxation years; and

(b)  the amount prescribed for the purposes of section 851.22.18 of the Act in respect of the taxpayer for taxation years after the taxation year referred to in paragraph a, is nil.

O.C. 390-2012, s. 64.