Income Tax Application Rules (R.S.C., 1985, c. 2 (5th Supp.))

Marginal note:Income War Tax Act, s. 8

• 17. (1) A taxpayer may deduct from the tax otherwise payable under Part I of the amended Act for a taxation year such amount as would, if the Income War Tax Act applied to the taxation year, be deductible from tax because of subsections 8(6), (7) and (7A) of the Income War Tax Act.

• Marginal note:S.C. 1947, c. 63, s. 16

  (2) There may be deducted in computing income for a taxation year under Part I of the amended Act an amount that would be deductible under section 16 of chapter 63 of the Statutes of Canada, 1947, from income as defined by the Income War Tax Act if that Act applied to the taxation year.

• Marginal note:Idem

  (3) There may be deducted from the tax for a taxation year otherwise payable under Part I of the amended Act an amount that would be deductible under section 16 of chapter 63 of the Statutes of Canada, 1947, from the total of taxes payable under the Income War Tax Act and The Excess Profits Tax Act, 1940, if those Acts applied to the taxation year.

• Marginal note:Retrospection

  (4) Where there is a reference in the amended Act to any act, matter or thing done or existing before a taxation year, it shall be deemed to include a reference to the act, matter or thing, even though it was done or existing before the commencement of that Act.

• Marginal note:Amount not previously included as income

  (5) Where, on the application of a method adopted by a taxpayer for computing income from a business, other than a business that is a profession, or farm or property for a taxation year to which the amended Act applies, an amount received in the year would not be included in computing the taxpayer’s income for the year because on the application of that method it would have been included in computing the taxpayer’s income for the purposes of the Income Tax Act or the Income Tax Act, chapter 148 of the Revised Statutes of Canada, 1952, for a preceding taxation year in respect of which it was receivable, if the amount was not included in computing the income for the preceding year, it shall be included in computing the income for the year in which it was received.

• Marginal note:S.C. 1949 (2nd S.), c. 25, s. 53

  (6) There may be deducted in computing income for a taxation year under Part I of the amended Act an amount that would be deductible under section 53 of chapter 25 of the Statutes of Canada, 1949 (Second Session), in computing income under The 1948 Income Tax Act if that Act applied to the taxation year.

• Marginal note:Idem

  (7) There may be deducted from the tax for a taxation year otherwise payable under Part I of the amended Act an amount that would be deductible under section 53 of chapter 25 of the Statutes of Canada, 1949 (Second Session), from the tax payable under Part I of The 1948 Income Tax Act if that Act applied to the taxation year.

• Marginal note:Registered pension plan

  (8) A reference in the amended Act to a registered pension plan shall, in respect of a period while the plan was an approved superannuation or pension fund or plan, be construed as a reference to that approved superannuation or pension fund or plan.