I-3 - Taxation Act

Section 737.24 Disposition versions

2006-03-01

737.24. In this Title,

“basic allowance” of an individual for a period means, in respect of an employment, the part of the out-of-Canada living allowance received by the individual in respect of the employment for that period, which does not exceed one-half of the individual’s basic income for that period in respect of that employment;

“basic income” means, in respect of an employment, the income from an employment, computed before any deduction under Chapter III of Title II of Book III and without taking into account any out-of-Canada living allowance or, except in the definition of “basic allowance”, the part of any other amount included in computing that income, which corresponds to the deduction granted in respect of that other amount, otherwise than under this Title, in computing the taxable income;

“specified employer” means a person resident in Canada, a corporation that is a foreign affiliate of such a person, or a partnership whose members, resident in Canada, including a corporation controlled by persons resident in Canada, are the owners of interests in that partnership having a fair market value in excess of 10% of the fair market value of all interests in the partnership.

1995, c. 1, s. 69; 1997, c. 3, s. 71.