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I-3 - Taxation Act

Section 169
Disposition versions

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169. Despite any other provision of this Act (other than section 174.2), a corporation or a trust shall not make any deduction in respect of the proportion, determined in accordance with section 170, of any amount otherwise deductible in computing its income from a business (other than the Canadian banking business of an authorized foreign bank) or property for a taxation year, in respect of interest paid or payable by it on outstanding debts to specified persons not resident in Canada.
1972, c. 23, s. 157; 1997, c. 3, s. 71; 2015, c. 21, s. 130; 2015, c. 24, s. 33.
169. Despite any other provision of this Part, except section 174.2, a corporation resident in Canada shall not make any deduction in respect of the proportion, determined in section 170, of any amount otherwise deductible in computing its income for the year, in respect of interest paid or payable by it on outstanding debts to specified persons not resident in Canada.
1972, c. 23, s. 157; 1997, c. 3, s. 71; 2015, c. 21, s. 130.
169. Notwithstanding any other provision of this Part, a corporation resident in Canada shall not make any deduction in respect of the proportion determined in section 170, of any amount otherwise deductible in computing its income for the year, in respect of interest paid or payable by it on outstanding debts to specified persons not resident in Canada.
1972, c. 23, s. 157; 1997, c. 3, s. 71.
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