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

Section 851.22.4r8 Disposition versions

2012-09-01

851.22.4R8. For the purposes of paragraph b of section 851.22.4R2 and paragraph a of section 851.22.4R3, if section 851.22.4R7 does not apply to determine a taxpayer’s accrual adjustment in respect of a specified debt obligation for a particular taxation year, the taxpayer’s accrual adjustment is the positive or negative amount determined by the formula

A − B.

In the formula in the first paragraph,

(a)  A is the total of all amounts each of which is the amount that would be the taxpayer’s accrued return from the obligation for a taxation year, before the particular taxation year, for which section 851.22.4 of the Act applied to the taxpayer in respect of the obligation, if the accrued return were redetermined on the basis of

i.  the information available at the end of the particular taxation year, and

ii.  the assumptions, if any, with respect to the timing and amount of payments to be made under the obligation after the particular taxation year that were used for the purpose of determining the taxpayer’s accrued return from the obligation for the particular taxation year; and

(b)  B is the total of

i.  the taxpayer’s accrued return from the obligation for the taxation year immediately preceding the particular taxation year, determined under paragraph a of section 851.22.4R2, and

ii.  if the taxpayer’s accrual adjustment in respect of the obligation for that immediately preceding taxation year was determined under this section, the total referred to in paragraph a for the purpose of determining that accrual adjustment.

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