I-3 - Taxation Act

Section 1180 Disposition versions

2017-02-08

1180. No tax shall be payable for a taxation year in respect of

(a)  the income of a taxpayer, computed in the manner prescribed in paragraph a of section 1178, if that income does not exceed $65,000 for that taxation year; or

(b)  the share of a taxpayer in the income of a partnership carrying on logging operations of which the taxpayer is a member, if the income of the partnership, computed in the manner prescribed in paragraph b of section 1178, for a fiscal period of the partnership ending in that taxation year, does not exceed $65,000.

Where the taxation year referred to in subparagraph a of the first paragraph or, where the fiscal period of the taxpayer referred to in that subparagraph does not coincide with the taxpayer’s taxation year, the period determined in the third paragraph in respect of the taxpayer for that taxation year, or the fiscal period referred to in subparagraph b of that paragraph is less than 12 months, those subparagraphs are to be read as if the amount of $65,000 were replaced by the proportion of that amount that the number of days in the taxation year, period or fiscal period, as the case may be, is of 365.

For the purposes of the second paragraph, the period to be determined in respect of a taxpayer for a taxation year, where the taxpayer has only one fiscal period ending in the taxation year, corresponds to that fiscal period or, in other cases, to the period covered by the aggregate of months in the year or in the previous taxation year included in the fiscal periods ending in the taxation year.

1972, c. 23, s. 889; 1993, c. 64, s. 207; 1995, c. 63, s. 260; 1997, c. 3, s. 71; 2017, c. 1, s. 391.

2006-03-01

1180. No tax shall be payable for a taxation year in respect of

(a)  the income of a taxpayer, computed in the manner prescribed in paragraph a of section 1178, if that income does not exceed $10,000 for that taxation year;

(b)  the share of a taxpayer in the income of a partnership carrying on logging operations of which he is a member, if the income of the partnership, computed in the manner prescribed in paragraph b of section 1178, for a fiscal period of the partnership ending in that taxation year, does not exceed $10,000.

Where the taxation year referred to in subparagraph a of the first paragraph or, where the fiscal period of the taxpayer referred to in that subparagraph does not coincide with the taxpayer’s taxation year, the period determined in the third paragraph in respect of the taxpayer for that taxation year, or the fiscal period referred to in subparagraph b of that paragraph is less than 12 months, the reference in the said subparagraphs to the amount of $10,000 shall be read as a reference to the amount which bears the same proportion to $10,000 that the number of days in the taxation year, period or fiscal period, as the case may be, bears to 365.

For the purposes of the second paragraph, the period to be determined in respect of a taxpayer for a taxation year, where the taxpayer has only one fiscal period ending in the taxation year, corresponds to that fiscal period or, in other cases, to the period covered by the aggregate of months in the year or in the previous taxation year included in the fiscal periods ending in the taxation year.

1972, c. 23, s. 889; 1993, c. 64, s. 207; 1995, c. 63, s. 260; 1997, c. 3, s. 71.