I-3 - Taxation Act

Section 728.2 Disposition versions

2006-03-01

728.2. In section 728.1, the farm loss of a taxpayer for a taxation year means the amount by which the lesser of the following amounts exceeds any amount by which the farm loss of the taxpayer for the year is required to be reduced because of sections 485 to 485.18:

(a)  the amount by which all his losses for the year from a farming or fishing business exceed the aggregate of his income for the year from such a business; and

(b)  the amount that would be the taxpayer’s non-capital loss if section 728 were read without paragraph a thereof.

1985, c. 25, s. 118; 1996, c. 39, s. 195; 2001, c. 53, s. 100.