I-3 - Taxation Act

Section 813 Disposition versions

2009-05-15

813. No deposit insurance corporation may deduct an amount in computing its income in respect of

(a)  any grant, subsidy or other assistance provided by it to a member institution;

(b)  the amount paid or payable by the corporation to acquire a property in excess of the fair market value of such property at the time it was acquired;

(c)  any amount paid to a member institution as allocation in proportion to the premiums or assessments contemplated in the second paragraph of section 808;

(c.1)  any amount paid by it to another deposit insurance corporation that is, because of subparagraph b of the second paragraph of section 808, not included in computing the income of that other deposit insurance corporation; or

(d)  (paragraph repealed);

(e)  any amount otherwise deductible under section 141 in respect of debts owing to it by its member institutions, and which has not been included in computing its income for the year or a preceding taxation year.

1975, c. 22, s. 218; 1986, c. 19, s. 166; 1990, c. 59, s. 305; 1997, c. 3, s. 71; 2009, c. 5, s. 346.

2006-03-01

813. A deposit insurance corporation shall make no deduction with respect to:

(a)  any grant, subsidy or other assistance provided by it to a member institution;

(b)  the amount paid or payable by the corporation to acquire a property in excess of the fair market value of such property at the time it was acquired;

(c)  any amount paid to a member institution as allocation in proportion to the premiums or assessments contemplated in the second paragraph of section 808; or

(d)  (paragraph repealed);

(e)  any amount otherwise deductible under section 141 in respect of debts owing to it by its member institutions, and which has not been included in computing its income for the year or a preceding taxation year.

1975, c. 22, s. 218; 1986, c. 19, s. 166; 1990, c. 59, s. 305; 1997, c. 3, s. 71.