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I-3 - Taxation Act

Section 150
Disposition versions

Full text
150. Where amounts contemplated in paragraph a of section 87 have been included in computing the income from a business of the taxpayer for the year or a previous year, he may deduct a reasonable amount as a reserve in respect of
(a)  goods or services that it is reasonably anticipated will be delivered or rendered after the end of the year;
(b)  periods for which rent or other amounts for the possession or use of land or movable property have been paid in advance; or
(c)  repayments under arrangements or understandings contemplated in subparagraph ii of paragraph a of section 87 that it is reasonably anticipated will have to be made after the end of the year on the return or resale to the taxpayer of articles other than bottles.
1972, c. 23, s. 138; 1997, c. 14, s. 43.
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