I-3 - Taxation Act

Section 766.15 Disposition versions

2006-03-01

766.15. For the purposes of this chapter, if an individual becomes a bankrupt in the calendar year 2004, the following rules apply:

(a)  there shall be taken into account, as a covered benefit attributable to each of the individual’s taxation years referred to in section 779 that end in the calendar year, only an amount that is wholly attributable to that taxation year; and

(b)  the amount of $1,840 provided for in the first paragraph of section 766.9 is to be replaced, for each of the individual’s taxation years referred to in section 779 that end in the calendar year, by the amount obtained by multiplying $1,840 by the proportion that the number of days in that taxation year is of the number of days in the calendar year.

2005, c. 38, s. 167.