I-3 - Taxation Act

Section 1029.8.149 Disposition versions

2021-06-02

1029.8.149. (Repealed).

2010, c. 5, s. 168; 2021, c. 14, s. 165.

2010-04-20

1029.8.149. For the purpose of determining an individual’s qualified expenditure, the amount of the expenditure is to be reduced by

(a)  an amount that is deductible in computing an individual’s income from a business or property for the year or a subsequent taxation year;

(b)  an amount that is included in the capital cost of a property;

(c)  an amount that is taken into account in computing

i.  an amount that is deducted in computing the tax payable by an individual for the year or a subsequent taxation year under this Part, or

ii.  an amount that is deemed to have been paid to the Minister on account of the tax payable by an individual for the year or a subsequent taxation year under this Part, except an amount that is deemed, under this division, to have been paid to the Minister on account of the tax payable by an individual under this Part; and

(d)  an amount that is government assistance, non-government assistance, a reimbursement or any other form of assistance, including an indemnity paid under an insurance contract, attributable to the expenditure, that the individual or any other person (other than the person acting as a qualified contractor under the home renovation agreement under which the expenditure is incurred) has received, is entitled to receive or may reasonably expect to receive in any taxation year.

2010, c. 5, s. 168.