I-3 - Taxation Act

Section 734 Disposition versions

2006-03-01

734. An amount in respect of a non-capital loss, a farm loss, a restricted farm loss or a limited partnership loss is deductible, and an amount in respect of a net capital loss may be claimed, for a particular taxation year under section 727, 728.1, 729, 731, 733.0.0.1 or 737 only to the extent that it exceeds the aggregate of

(a)  the amounts deducted under this Title in respect of that non-capital loss, farm loss, restricted farm loss or limited partnership loss in computing taxable income for taxation years preceding the particular taxation year, and

(b)  the deduction that was claimed under section 729 in respect of that net capital loss for taxation years preceding the particular taxation year.

1972, c. 23, s. 552; 1985, c. 25, s. 120; 1988, c. 4, s. 57; 1990, c. 59, s. 277; 1993, c. 16, s. 274; 1997, c. 3, s. 71.