I-3 - Taxation Act

Section 78.1.1 Disposition versions

2006-03-01

78.1.1. An individual may deduct the amount determined in respect of the individual for the year under the second paragraph where, as a consequence of the receipt of an amount, in this section referred to as the “deferred amount”, from an insurer, an amount is reimbursed by or on behalf of the individual to an employer or former employer of the individual pursuant to an arrangement described in paragraph b of the definition of “top-up disability payment” in the first paragraph of section 43.0.2, and the reimbursement is made

(a)  in the year, other than within the first 60 days of the year if the deferred amount was received in the preceding taxation year; or

(b)  within 60 days after the end of the year, if the deferred amount was received in the year.

The amount to which the first paragraph refers in respect of an individual for the year is the lesser of

(a)  the amount included under section 43 in respect of the deferred amount in computing the individual’s income for any taxation year; and

(b)  the amount of the reimbursement referred to in the first paragraph in respect of the individual for the year.

2000, c. 5, s. 25.