Income Tax Act
Marginal note:Credits in separate returns
118.93 Where a separate return of income with respect to a taxpayer is filed under subsection 70(2), 104(23) or 150(4) for a particular period and another return of income under this Part with respect to the taxpayer is filed for a period ending in the calendar year in which the particular period ends, for the purpose of computing the tax payable under this Part by the taxpayer in those returns, the total of all deductions claimed in all those returns under any of subsection 118(3) and sections 118.01 to 118.7 and 118.9 shall not exceed the total that could be deducted under those provisions for the year with respect to the taxpayer if no separate returns were filed under subsections 70(2), 104(23) and 150(4).
- NOTE: Application provisions are not included in the consolidated text;
- see relevant amending Acts. R.S., 1985, c. 1 (5th Supp.), s. 118.93;
- 2006, c. 4, s. 68.
- Date modified: