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I-3 - Taxation Act

Section 728.0.2
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728.0.2. Notwithstanding section 728, the non-capital loss of a corporation for a particular taxation year ending after 30 June 1988, determined for the purposes of computing its taxable income for a taxation year ending before 1 July 1988, is deemed to be equal to the amount by which the amount that would, but for this section, be its non-capital loss for the particular taxation year, exceeds 1/5 of the lesser of
(a)  the amount deductible under section 725.1.1 in computing the corporation’s taxable income for the particular taxation year, and
(b)  the amount that would, but for this section, be its non-capital loss for the particular year.
1990, c. 59, s. 273; 1997, c. 3, s. 71.
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