I-3 - Taxation Act

Section 92.25 Disposition versions

2010-10-27

92.25. If an amount has been deducted under section 175.2.17 in computing an insurer’s income for its transition year from an insurance business carried on by it in Canada, there must be included in computing the insurer’s income, for each particular taxation year of the insurer that ends after the beginning of the transition year, from that insurance business, the amount determined by the formula

A × B/1,825.

In the formula in the first paragraph,

(a)  A is the amount deducted under section 175.2.17 in computing the insurer’s income for its transition year from that insurance business; and

(b)  B is the number of days in the particular taxation year that are before the day that is 1,825 days after the first day of the transition year.

2010, c. 25, s. 12.