VIII, s. 581997, c. 25, s. 291998, c. 19, s. 291999, c. 22, s. 392000, c. 12, ss. 133, 142, c. 19, s. 262007, c. 2, s. 25, c. 29, s. 102009, c. 31, s. 72011, c. 24, s. 322014, c. 20, s. 132016, c. 7, s. 18
(a)the amount determined by the formulaA - BwhereAis the lesser of(i)the total of all amounts that may be deducted under section 118.5 in computing the person’s tax payable under this Part for the year, and(ii)the amount determined by the formulaC × DwhereCis the appropriate percentage for the taxation year, andDis $5,000.Bis the amount that would be the person’s tax payable under this Part for the year if no amount were deductible under this Division (other than an amount deductible under any of sections 118 to 118.07, 118.3, 118.61 and 118.7), and(b)the amount for the year that the person designates in writing for the purpose of section 118.8 or 118.9.
(i)the total of all amounts that may be deducted under section 118.5 in computing the person’s tax payable under this Part for the year, and(ii)the amount determined by the formulaC × DwhereCis the appropriate percentage for the taxation year, andDis $5,000.
[NOTE: Application provisions are not included in the consolidated textsee relevant amending Acts and regulations.]1998, c. 19, s. 302001, c. 17, s. 1012006, c. 4, s. 662007, c. 2, s. 262009, c. 31, s. 82011, c. 24, s. 332014, c. 20, s. 142016, c. 7, s. 19
[NOTE: Application provisions are not included in the consolidated textsee relevant amending Acts and regulations.]R.S., 1985, c. 1 (5th Supp.), s. 118.91994, c. 7, Sch