I-3, r. 1 - Regulation respecting the Taxation Act

Section 818r62 Disposition versions

2012-09-01

818R62. The gross Canadian life investment income of a life insurer for a taxation year means the amount by which the aggregate of all amounts each of which is any of the following amounts exceeds the amount described in section 818R63:

(a)  the insurer’s gross investment revenue for the year, to the extent that the revenue is from Canadian business property of the insurer for the year in respect of the insurer’s life insurance business;

(b)  the amount included in computing the insurer’s income for the year under paragraph a.1 of section 844 of the Act;

(c)  the portion of the amount deducted under section 140 of the Act in computing the insurer’s income for its preceding taxation year that was in respect of Canadian business property of the insurer for that year in respect of the insurer’s life insurance business;

(d)  the amount included under Division II of Chapter II of Title V.1 of Book VI of Part I of the Act in computing the insurer’s income for the year in respect of property disposed of by the insurer that was, in the taxation year of disposition, Canadian business property of the insurer for that year in respect of the insurer’s life insurance business;

(e)  the insurer’s gain for the year from the disposition of a Canadian business property of the insurer for the year in respect of the insurer’s life insurance business, other than a capital property or a property in respect of the disposition of which Division II of Chapter II of Title V.1 of Book VI of Part I of the Act applies; or

(f)  the insurer’s taxable capital gain for the year from the disposition of a Canadian business property of the insurer for the year in respect of the insurer’s life insurance business.

s. 818R60; O.C. 1463-2001, s. 86; O.C. 134-2009, s. 1.