I-3 - Taxation Act

Section 752.0.18.13.1 Disposition versions

2015-10-21

752.0.18.13.1. For the purpose of determining the amount that an individual may deduct from the individual’s tax otherwise payable for a taxation year under section 752.0.18.10, the following rules apply:

(a)  the amount referred to in the portion of paragraph a of section 752.0.18.10 before subparagraph i is equal to the aggregate of all amounts each of which is, subject to subparagraph a of the third paragraph, determined by the formula

A / 8%; and

(b)  the amount referred to in the portion of paragraph b of section 752.0.18.10 before subparagraph i is equal to the aggregate of all amounts each of which is, subject to subparagraph b of the third paragraph, determined by the formula

B / 20%.

In the formulas in subparagraphs a and b of the first paragraph,

(a)  A is an amount transferred by the individual to another individual, in accordance with section 776.41.21, for the year or a preceding taxation year in respect of fees referred to in any of subparagraphs i to iv of paragraph a of section 752.0.18.10; and

(b)  B is an amount transferred by the individual to another individual, in accordance with section 776.41.21, for the year or a preceding taxation year in respect of fees referred to in any of subparagraphs i to iv of paragraph b of section 752.0.18.10.

For the purposes of the first paragraph, if the individual has transferred a particular amount to another individual, in accordance with section 776.41.21, for the taxation year 2013, the following rules apply:

(a)  the amount determined by the formula in subparagraph a of the first paragraph in respect of fees referred to in any of subparagraphs v to vii of paragraph a of section 752.0.18.10 is deemed to be equal to the aggregate of those fees multiplied by the proportion that the particular amount is of the total of

i.  the amount obtained by multiplying 8% by the aggregate of the fees referred to in any of subparagraphs v to vii of paragraph a of section 752.0.18.10, and

ii.  the amount obtained by multiplying 20% by the aggregate of the fees referred to in any of subparagraphs v to vii of paragraph b of section 752.0.18.10; and

(b)  the amount determined by the formula in subparagraph b of the first paragraph in respect of fees referred to in any of subparagraphs v to vii of paragraph b of section 752.0.18.10 is deemed to be equal to the aggregate of those fees multiplied by the proportion that the particular amount is of the total of

i.  the amount obtained by multiplying 8% by the aggregate of the fees referred to in any of subparagraphs v to vii of paragraph a of section 752.0.18.10, and

ii.  the amount obtained by multiplying 20% by the aggregate of the fees referred to in any of subparagraphs v to vii of paragraph b of section 752.0.18.10.

2009, c. 5, s. 291; 2015, c. 21, s. 299.

2009-05-15

752.0.18.13.1. The amount to which the portion of section 752.0.18.10 before paragraph a refers, for a taxation year and in relation to an individual, is equal to the aggregate of all amounts each of which is determined by the formula

A/B.

In the formula in the first paragraph,

(a)  A is an amount transferred by the individual to another individual, in accordance with section 776.41.21, for the year or for a preceding taxation year (in this paragraph referred to as the “transfer year”); and

(b)  B is the percentage determined under section 750.1 for the transfer year.

2009, c. 5, s. 291.