Income Tax Act (R.S.C., 1985, c. 1 (5th Supp.))

Marginal note:Additions for foreign tax deductions

110.5 There shall be added to a corporation’s taxable income otherwise determined for a taxation year such amount as the corporation may claim to the extent that the addition thereof

• (a) increases any amount deductible by the corporation under subsection 126(1) or (2) for the year; and

• (b) does not increase an amount deductible by the corporation under any of sections 125, 125.1, 127, 127.2 and 127.3 for the year.