I-3 - Taxation Act

Section 716.0.1.4 Disposition versions

2017-02-08

716.0.1.4. For the purpose of determining the amount deductible under paragraph a of section 710 in computing the taxable income of a corporation for a taxation year, the eligible amount of the following gifts made to a registered charity that is a prescribed charity is to be increased by 1/2 of that amount:

(a)  a gift made by a recognized farm producer of an eligible agricultural product produced by such a producer; or

(b)  a gift of an eligible food product made by a corporation carrying on a food processing business or by a corporation that is a member of a partnership carrying on such a business.

In this section, “recognized farm producer” has the meaning that would be assigned by the definition of that expression in the first paragraph of section 752.0.10.1 if that definition were read as if “an individual” were replaced, wherever it appears, by “a corporation”, and “eligible agricultural product” and “eligible food product” have the meaning assigned by that section.

2015, c. 36, s. 39; 2017, c. 1, s. 167.

2015-12-04

716.0.1.4. For the purpose of determining the amount deductible under paragraph a of section 710 in computing the taxable income of a corporation for a taxation year, the eligible amount of a gift made by a recognized farm producer of an eligible agricultural product produced by such a producer to a registered charity that is a prescribed charity is to be increased by 1/2 of that amount.

In this section, “recognized farm producer” has the meaning that would be assigned by the definition of that expression in the first paragraph of section 752.0.10.1 if “an individual” were replaced, wherever it appears, by “a corporation”, and “eligible agricultural product” has the meaning assigned by that section.

2015, c. 36, s. 39.