I-3 - Taxation Act

Section 217.21 Disposition versions

2015-10-26

217.21. The following rules apply for a particular taxation year if an amount was included in computing the income of a corporation in respect of a partnership for the preceding taxation year under section 217.19 or 217.20:

(a)  the portion of the amount that, because of subparagraph i or ii of paragraph a of section 217.22, was income for that preceding taxation year is deductible in computing the income of the corporation for the particular year; and

(b)  the portion of the amount that, because of subparagraph i or ii of paragraph a of section 217.22, was a taxable capital gain for that preceding taxation year is deemed to be an allowable capital loss of the corporation for the particular year from the disposition of property.

2013, c. 10, s. 21; 2015, c. 24, s. 44.

2013-06-05

217.21. A corporation may deduct in computing its income for a taxation year each amount that was included in computing its income in respect of a partnership for the preceding taxation year under section 217.19 or 217.20.

2013, c. 10, s. 21.