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I-3 - Taxation Act

Section 979.8
Disposition versions

Full text
979.8. (Repealed).
1985, c. 25, s. 143; 2007, c. 12, s. 98.
979.8. The deduction contemplated in section 979.6 shall not exceed, where the market-maker works for his own account, the least of
(a)  $65,000;
(b)  50% of his profits for the particular period; or
(c)  the amount by which the sum of $500,000 plus the aggregate of the amounts withdrawn by him from his reserve account for contingent losses within the particular period or a previous particular period and then included in computing his income exceeds the aggregate of the deductions he is allowed to make under section 979.6 for the previous taxation years.
1985, c. 25, s. 143.
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