I-3 - Taxation Act

Section 224.1 Disposition versions

2006-03-01

224.1. For the purposes of section 224, an amount is deemed to be an expenditure made in a taxation year by a taxpayer as repayment of an amount described in paragraph b of section 225 if the amount

(a)  reduced, by the effect of paragraph b of section 225, the aggregate of the amounts that may be deducted by the taxpayer under sections 222 to 224 in computing his income for a taxation year;

(b)  was not received by the taxpayer; and

(c)  ceased in the taxation year to be an amount that the taxpayer can reasonably be expected to receive.

1994, c. 22, s. 121.