I-3 - Taxation Act

Section 737.0.1 Disposition versions

2022-06-08

737.0.1. An individual, other than a trust that is not a personal trust, shall include in computing the individual’s taxable income for a taxation year an amount equal to the amount by which the amount of the individual’s additional investment expense for the year exceeds the portion of the individual’s investment income for the year in excess of the individual’s investment expense for the year.

If the individual benefits for the year from the deduction provided for in section 737.16 or 737.18.10 in respect of an employment, the amount determined under the first paragraph must be determined on the assumption that the rules set out in the second paragraph of section 313.10 apply in respect of the particular amounts otherwise included in the investment expense or investment income of the individual for the year and, with the necessary modifications, in respect of the particular amounts taken into account in computing the amounts otherwise included in the additional investment expense of the individual for the year.

In this section, “additional investment expense”, “investment expense” and “investment income” have the meaning assigned by section 336.5.

2005, c. 38, s. 95; 2022, c. 23, s. 47.

2006-03-01

737.0.1. An individual, other than a trust that is not a personal trust, shall include in computing the individual’s taxable income for a taxation year an amount equal to the amount by which the amount of the individual’s additional investment expense for the year exceeds the portion of the individual’s investment income for the year in excess of the individual’s investment expense for the year.

If the individual benefits for the year from the deduction provided for in any of sections 737.16, 737.18.10 and 737.18.34 in respect of an employment, the amount determined under the first paragraph must be determined on the assumption that the rules set out in the second paragraph of section 313.10 apply in respect of the particular amounts otherwise included in the investment expense or investment income of the individual for the year and, with the necessary modifications, in respect of the particular amounts taken into account in computing the amounts otherwise included in the additional investment expense of the individual for the year.

In this section, “additional investment expense”, “investment expense” and “investment income” have the meaning assigned by section 336.5.

2005, c. 38, s. 95.