I-3 - Taxation Act

Section 217.6 Disposition versions

2015-10-26

217.6. (Repealed).

1997, c. 31, s. 27; 2015, c. 24, s. 42.

2006-03-01

217.6. For the purposes of Division VIII.2, where at the end of the year 1994 an individual carried on a particular business no fiscal period of which ended at that time, and an amount is included under section 217.3 in computing the individual’s income for the individual’s taxation year 1995 in respect of another business that would, if section 217.12 applied for the purposes of this section, be included in the particular business, the individual’s income on 31 December 1995 in respect of the other business is deemed to be equal to the amount that would have been included in computing the individual’s income under section 217.3 if

(a)  subparagraph a of the second paragraph of section 217.3 were read as follows:

“(a) A is the individual’s income from the business for the particular fiscal period, determined as if paragraphs a to d of section 217.11 applied in computing that income;”; and

(b)  subparagraph ii of subparagraph b of the second paragraph of section 217.3 were read as follows:

“ii. the aggregate of the maximum amounts deductible under the said Title VI.5 in computing the individual’s taxable income for the individual’s taxation year that includes the end of the particular fiscal period;”.

1997, c. 31, s. 27.