I-3 - Taxation Act

Section 818 Disposition versions

2006-03-01

818. In this Title, “designated insurance property” for a taxation year of an insurer, other than an insurer resident in Canada that at no time in the year carried on a life insurance business, that, at any time in the year, carried on an insurance business in Canada and elsewhere means property determined in accordance with the prescribed rules.

However, in its application to any taxation year, “designated insurance property” for the taxation year 1998 or a preceding taxation year means property that was, under this section as it read in its application to any taxation year that ended in 1996, property used or held by an insurer in the year in the course of carrying on an insurance business in Canada.

1972, c. 23, s. 613; 1978, c. 26, s. 138; 1998, c. 16, s. 190; 2004, c. 8, s. 158.