I-3 - Taxation Act

Section 264.3 Disposition versions

2006-03-01

264.3. The amount of any unused scientific research and experimental development tax credit, within the meaning of paragraph b of section 776.6, of an individual for a particular taxation year, to the extent that it was not deducted from his tax otherwise payable under this Part for the immediately preceding taxation year, and in the proportion of 200% of the product obtained by multiplying that amount not so deducted by the inverse proportion of what is determined pursuant to the second paragraph of section 22, 25 or 26, as the case may be, for the particular taxation year, is deemed to be a capital loss of the individual from a disposition of property for the year immediately following the particular taxation year.

1985, c. 25, s. 49; 1987, c. 67, s. 68.