I-3 - Taxation Act

Section 399.6 Disposition versions

2006-03-01

399.6. For the purposes of this chapter, the expression “restricted expense” of a taxpayer means an expense

(a)  incurred by him before 1 April 1987;

(b)  that is deemed under section 418 to have been incurred by him, or included by him in the amount referred to in paragraph a of section 408 by virtue of the second paragraph of section 392, to the extent that the expense was originally incurred before 1 April 1987;

(c)  that was renounced by him under section 359.2.1 or 359.4 or section 417, as it read in respect of the renunciation;

(d)  in respect of which an amount referred to in section 392 becomes receivable by him;

(e)  deemed to be a Canadian exploration expense of the taxpayer or any other taxpayer by virtue of section 399.3; or

(f)  where the taxpayer is a corporation, that was incurred by the corporation before the time control of the corporation was last acquired by a person or persons.

1988, c. 18, s. 31; 1995, c. 49, s. 102; 1997, c. 3, s. 71; 1998, c. 16, s. 149.