I-3 - Taxation Act

Section 844.2 Disposition versions

2015-10-26

844.2. (Repealed).

1987, c. 67, s. 163; 1994, c. 22, s. 281; 2015, c. 24, s. 125.

2006-03-01

844.2. For the purposes of paragraph a of section 844, in computing a life insurer’s income from carrying on its life insurance business in Canada for its first taxation year ending after 31 December 1984, the life insurer is deemed to have deducted under paragraph a of section 840, in computing its income from that business for its last taxation year ending before 1 January 1985, an amount equal to the amount by which

(a)  the aggregate of the amounts deducted by the insurer in computing its income for a taxation year ending after 31 December 1968 and before 1 January 1985 in respect of a claim under a life insurance policy that was likely to arise after the end of the particular taxation year in respect of a death that occurred in the particular taxation year, exceeds

(b)  the aggregate of the amounts paid by the insurer or included in computing its income before the commencement of its first taxation year ending after 31 December 1984 in respect of an amount described in paragraph a.

1987, c. 67, s. 163; 1994, c. 22, s. 281.