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I-3 - Taxation Act

Section 770
Disposition versions

Full text
770. Despite section 750, the tax payable under this Part by a mutual fund trust, other than a SIFT trust, on its taxable income for a taxation year is equal to the amount obtained by multiplying the percentage specified in section 750.1.1 by its taxable income reduced by the amount by which its taxable capital gains for the year exceed its allowable capital losses for the year and increased by the amounts deducted for the year under section 729.
1972, c. 23, s. 583; 1985, c. 25, s. 130; 1996, c. 39, s. 273; 1997, c. 85, s. 330; 2001, c. 51, s. 71; 2009, c. 5, s. 305; 2013, c. 10, s. 57.
770. Despite section 750, the tax payable under this Part by a mutual fund trust, other than a SIFT trust, on its taxable income for a taxation year is equal to the greater of
(a)  the amount obtained by multiplying the percentage specified in section 750.1 for the year by its taxable income reduced by the amount by which its taxable capital gains for the year exceeds its allowable capital losses for the year and increased by the amounts deducted for the year under section 729; or
(b)  the tax that would be determined under section 750 if its taxable income for the year were equal to the amount determined under paragraph a.
1972, c. 23, s. 583; 1985, c. 25, s. 130; 1996, c. 39, s. 273; 1997, c. 85, s. 330; 2001, c. 51, s. 71; 2009, c. 5, s. 305.
770. Notwithstanding section 750 the tax payable under this Part by a mutual fund trust on its taxable income for a taxation year is equal to the greater of:
(a)  the amount obtained by multiplying the percentage specified in section 750.1 for the year by its taxable income reduced by the amount by which its taxable capital gains for the year exceeds its allowable capital losses for the year and increased by the amounts deducted for the year under section 729; or
(b)  the tax that would be determined under section 750 if its taxable income for the year were equal to the amount determined under paragraph a.
1972, c. 23, s. 583; 1985, c. 25, s. 130; 1996, c. 39, s. 273; 1997, c. 85, s. 330; 2001, c. 51, s. 71.
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