I-3 - Taxation Act

Section 726.4.11 Disposition versions

2006-03-01

726.4.11. The amount that must be deducted from the aggregate determined under section 726.4.10 at any time referred to therein is equal to the aggregate of

(a)  each amount deducted by the individual under section 726.4.9 in computing his taxable income for a taxation year ending before that time and

(b)  33 1/3% of each amount that became receivable by the individual before that time but after 30 June 1988 and in respect of which the consideration given by him was a property other than a property disposed of by the individual to any person with whom he was not dealing at arm’s length, a share, depreciable property of a prescribed class or a Canadian resource property, or services, the cost of which may reasonably be regarded as having been an expenditure in respect of which an amount was included, under section 726.4.10, in computing the exploration base relating to certain Québec exploration expenses of the individual or of a person with whom he was not dealing at arm’s length.

1989, c. 5, s. 86.