I-3 - Taxation Act

Section 844.9 Disposition versions

2023-09-26

844.9. If an amount has been deducted under section 844.7 in computing an insurer’s income for its transition year from an insurance business carried on by it, there must be included in computing the insurer’s income, for each particular taxation year of the insurer that ends after the beginning of the transition year, from that insurance business, the amount determined by the formula

A × B/1,825.

In the formula in the first paragraph,

(a)  A is the amount deducted under section 844.7 in computing the insurer’s income for its transition year from that insurance business; and

(b)  B is the number of days in the particular taxation year that are before the day that is 1,825 days after the first day of the transition year.

2010, c. 25, s. 94; 2023, c. 19, s. 75.

2010-10-27

844.9. If an amount has been deducted under section 844.7 in computing a life insurer’s income for its transition year from a life insurance business carried on by it in Canada, there must be included in computing the life insurer’s income, for each particular taxation year of the life insurer that ends after the beginning of the transition year, from that life insurance business, the amount determined by the formula

A × B/1,825.

In the formula in the first paragraph,

(a)  A is the amount deducted under section 844.7 in computing the life insurer’s income for its transition year from that life insurance business; and

(b)  B is the number of days in the particular taxation year that are before the day that is 1,825 days after the first day of the transition year.

2010, c. 25, s. 94.