Income Tax Act

Version of section 127.51 from 2004-08-31 to 2014-12-15:

Marginal note:Minimum amount determined

 An individual’s minimum amount for a taxation year is the amount determined by the formula

A(B - C) - D

where

A
is the appropriate percentage for the year;
B
is the individual’s adjusted taxable income for the year determined under section 127.52;
C
is the individual’s basic exemption for the year determined under section 127.53; and
D
is the individual’s basic minimum tax credit for the year determined under section 127.531.
  • NOTE: Application provisions are not included in the consolidated text;
  • see relevant amending Acts. 1986, c. 55, s. 50;
  • 1988, c. 55, s. 111.
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