I-3 - Taxation Act

Section 35.1 Disposition versions

2009-05-15

35.1. If an amount, other than an amount to which section 37 applies because of section 47.11, is receivable at the end of a taxation year by an individual in respect of a covenant, agreed to by the individual more than 36 months before the end of the year, with reference to what the individual is, or is not, to do, and the amount would be included in computing the individual’s income for the year under this Title if it were received by the individual in the year, the amount

(a)  is deemed to be received by the individual at the end of the year for services rendered as an employee or during the period of employment; and

(b)  is deemed not to be received at any other time.

2009, c. 5, s. 41.