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I-3 - Taxation Act
Section 92.5.4
Disposition versions
92.5.4. (Repealed).
92.5.4. Where a taxpayer has deducted an amount under the first paragraph of section 154.2 in computing the taxpayer’s income from a business for a particular taxation year, the taxpayer shall include, in computing that income for one or more of the four taxation years following the particular year, the amount or part of the amount so deducted.
However, in computing the taxpayer’s income from that business for the fourth taxation year following the particular year, the taxpayer must include an amount equal to the amount by which the amount deducted by the taxpayer under the first paragraph of section 154.2 in computing that income for the particular year exceeds the aggregate of all amounts each of which is an amount included by the taxpayer, pursuant to the first paragraph, in computing that income for a taxation year following the particular year in respect of the amount so deducted.
For the purposes of the second paragraph, the taxation year during which a taxpayer ceases to operate a business or, if the taxpayer is an individual, the year in which the taxpayer dies, is deemed to be the fourth taxation year following the particular year.
