I-3 - Taxation Act

Section 776.54.1 Disposition versions

2017-12-07

776.54.1. For the purposes of section 776.51, the aggregate of all amounts deductible by the individual in computing the individual’s taxable income for the year under any of sections 726.3, 726.4 and 726.4.0.1 is to be determined as if it were equal,

(a)  (subparagraph repealed);

(b)  in the case of section 726.3, to the aggregate of all amounts each of which is equal to the portion of the amount otherwise deducted by the individual for the year, under that section 726.3, in respect of the aggregate of the individual’s interest in a qualified investment and the individual’s additional interest in respect of the qualified investment, within the meaning assigned by paragraphs b.2 and c of section 965.29, that exceeds the aggregate of the amount of the individual’s interest in the qualified investment and the individual’s additional interest in respect of the qualified investment;

(c)  in the case of section 726.4, to the aggregate of all amounts each of which is equal to the portion of the amount otherwise deducted by the individual for the year, under that section 726.4, in respect of a qualifying security, within the meaning of paragraph d of section 965.35 or section 965.39.1, that exceeds its cost to the individual; and

(d)  in the case of section 726.4.0.1, to the aggregate of all amounts each of which is equal to the amount otherwise deducted by the individual for the year, under section 726.4.0.1, in respect of a qualifying share or qualifying security, within the meaning of the first paragraph of section 965.55, that exceeds its cost to the individual.

2000, c. 39, s. 94; 2006, c. 37, s. 35; 2007, c. 12, s. 93; 2017, c. 29, s. 164.

2007-11-07

776.54.1. For the purposes of section 776.51, the aggregate of all amounts deductible by the individual in computing the individual’s taxable income for the year under any of sections 726.1, 726.3, 726.4 and 726.4.0.1 is to be determined as if it were equal,

(a)  in the case of section 726.1, to the aggregate of all amounts each of which is equal to the portion of the amount otherwise deducted by the individual for the year, under that section 726.1, in respect of a share of a corporation described in section 965.11.7.1, that exceeds its cost to the individual;

(b)  in the case of section 726.3, to the aggregate of all amounts each of which is equal to the portion of the amount otherwise deducted by the individual for the year, under that section 726.3, in respect of the aggregate of the individual’s interest in a qualified investment and the individual’s additional interest in respect of the qualified investment, within the meaning assigned by paragraphs b.2 and c of section 965.29, that exceeds the aggregate of the amount of the individual’s interest in the qualified investment and the individual’s additional interest in respect of the qualified investment;

(c)  in the case of section 726.4, to the aggregate of all amounts each of which is equal to the portion of the amount otherwise deducted by the individual for the year, under that section 726.4, in respect of a qualifying security, within the meaning of paragraph d of section 965.35 or section 965.39.1, that exceeds its cost to the individual; and

(d)  in the case of section 726.4.0.1, to the aggregate of all amounts each of which is equal to the amount otherwise deducted by the individual for the year, under section 726.4.0.1, in respect of a qualifying share or qualifying security, within the meaning of the first paragraph of section 965.55, that exceeds its cost to the individual.

2000, c. 39, s. 94; 2006, c. 37, s. 35; 2007, c. 12, s. 93.

2006-12-06

776.54.1. For the purposes of section 776.51, the aggregate of all amounts deductible by the individual in computing the individual’s taxable income for the year under section 726.1, 726.3 or 726.4 shall be determined as if it were equal,

(a)  in the case of section 726.1, to the aggregate of all amounts each of which is equal to the portion of the amount otherwise deducted by the individual for the year, under that section 726.1, in respect of a share of a corporation described in section 965.11.7.1, that exceeds its cost to the individual;

(b)  in the case of section 726.3, to the aggregate of all amounts each of which is equal to the portion of the amount otherwise deducted by the individual for the year, under that section 726.3, in respect of the aggregate of the individual’s interest in a qualified investment and the individual’s additional interest in respect of the qualified investment, within the meaning assigned by paragraphs b.2 and c of section 965.29, that exceeds the aggregate of the amount of the individual’s interest in the qualified investment and the individual’s additional interest in respect of the qualified investment; and

(c)  in the case of section 726.4, to the aggregate of all amounts each of which is equal to the portion of the amount otherwise deducted by the individual for the year, under that section 726.4, in respect of a qualifying security, within the meaning of paragraph d of section 965.35 or section 965.39.1, that exceeds its cost to the individual.

2000, c. 39, s. 94; 2006, c. 37, s. 35.

2006-03-01

776.54.1. For the purposes of section 776.51, the aggregate of all amounts deductible by the individual in computing the individual’s taxable income for the year under section 726.1, 726.3 or 726.4 shall be determined as if it were equal,

(a)  in the case of section 726.1, to the aggregate of all amounts each of which is equal to the portion of the amount otherwise deducted by the individual for the year, under that section 726.1, in respect of a share of a corporation described in section 965.11.7.1, that exceeds its cost to the individual;

(b)  in the case of section 726.3, to the aggregate of all amounts each of which is equal to the portion of the amount otherwise deducted by the individual for the year, under that section 726.3, in respect of the aggregate of the individual’s interest in a qualified investment and the individual’s additional interest in respect of the qualified investment, within the meaning assigned by paragraphs b.2 and c of section 965.29, that exceeds the aggregate of the amount of the individual’s interest in the qualified investment and the individual’s additional interest in respect of the qualified investment; and

(c)  in the case of section 726.4, to the aggregate of all amounts each of which is equal to the portion of the amount otherwise deducted by the individual for the year, under that section 726.4, in respect of a qualifying security, within the meaning of paragraph d of section 965.35, that exceeds its cost to the individual.

2000, c. 39, s. 94.