I-3 - Taxation Act

Section 737.22.0.4.7 Disposition versions

2013-06-05

737.22.0.4.7. An individual who, at any time, holds employment as a foreign specialist with an eligible employer may deduct, in computing the individual’s taxable income for a taxation year, an amount not greater than the aggregate of all amounts each of which is determined, in respect of a specified period of the individual in relation to that employment, by the formula

A × (B - C).

In the formula provided for in the first paragraph,

(a)  A is

i.  100%, if that specified period of the individual is included in the first or second year of the period described in paragraph b of the definition of “specialized activity period” in the first paragraph of section 737.22.0.4.1,

ii.  75%, if that specified period of the individual is included in the third year of the period described in that paragraph b,

iii.  50%, if that specified period of the individual is included in the fourth year of the period described in that paragraph b, or

iv.  25%, if that specified period of the individual is included in the fifth year of the period described in that paragraph b;

(b)  B is the portion of the individual’s eligible income for the year, in relation to that employment, that is certified by the eligible employer in the prescribed manner and that may reasonably be attributed to that specified period of the individual; and

(c)  C is the aggregate of all amounts that the individual may deduct in computing the individual’s income for the year under Chapter III of Title II of Book III and that may reasonably be attributed to the individual’s employment as a foreign specialist during that specified period of the individual.

2013, c. 10, s. 47.