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

Section 851.22.18r1 Disposition versions

2017-04-12

851.22.18R1. (Revoked).

O.C. 390-2012, s. 64; O.C. 321-2017, s. 42.

2012-09-01

851.22.18R1. Subject to sections 851.22.18R2, 851.22.18R4 and 851.22.18R6, the amount prescribed for the purposes of section 851.22.18 of the Act in respect of a taxpayer for a taxation year that ends after 30 October 1994 is equal to the amount determined by the formula

A × B/1,825.

In the formula in the first paragraph,

(a)  A is the number of days, other than 29 February, in the year that are before the day that is 5 years after the first day of the taxation year of the taxpayer that includes 31 October 1994; and

(b)  B is the amount by which the taxpayer’s transition deduction exceeds the amounts, if any, determined under section 851.22.18R3 and paragraph b of section 851.22.18R5.

For the purposes of this division, the amount of the transition deduction of a taxpayer means the amount deducted under section 851.22.17 of the Act in computing the taxpayer’s income for its taxation year that includes 31 October 1994.

O.C. 390-2012, s. 64.