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I-3 - Taxation Act

Section 727.1
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727.1. Despite section 727, no amount in respect of a loss other than a trust’s non-capital loss for a taxation year in which the trust was an employee life and health trust may be deducted in computing the trust’s taxable income for another taxation year (in this section referred to as the “specified year”) if
(a)  the trust was not an employee life and health trust for the specified year; or
(b)  the trust is an employee life and health trust that, because of the application of section 869.3, may not deduct an amount under paragraph a of section 657 for the specified year.
2011, c. 6, s. 152.
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