I-3 - Taxation Act

Section 730.1 Disposition versions

2006-03-01

730.1. In this Title, “pre-1986 capital loss balance” of an individual for a particular taxation year means the amount by which the amount determined under section 730.2 in respect of the individual for the particular year exceeds the aggregate of

(a)  the aggregate of all amounts each of which is an amount deducted under Titles VI.5 and VI.5.1 in computing the individual’s taxable income for taxation years that precede the particular year and that ended before 1 January 1988 or began after 17 October 2000;

(b)  3/4 of the aggregate of all amounts each of which is an amount deducted under Titles VI.5 and VI.5.1 in computing the individual’s taxable income for taxation years that precede the particular year and that ended after 31 December 1987 but before 1 January 1990, or that began after 28 February 2000 and ended before 17 October 2000;

(c)  2/3 of the aggregate of all amounts each of which is an amount deducted under Titles VI.5 and VI.5.1 in computing the individual’s taxable income for taxation years that precede the particular year and that ended after 31 December 1989 but before 28 February 2000; and

(d)  any amount that is the quotient obtained by dividing the amount deducted under Titles VI.5 and VI.5.1 in computing the individual’s taxable income for a taxation year that precedes the particular year and includes 28 February 2000 or 17 October 2000 by twice the fraction in paragraphs a to d of section 231.0.1 that applies to the individual for that taxation year that precedes the particular year.

1987, c. 67, s. 146; 1990, c. 59, s. 276; 1993, c. 19, s. 46; 2003, c. 2, s. 207.