Income Tax Act (R.S.C., 1985, c. 1 (5th Supp.))
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Act current to 2026-02-18 and last amended on 2026-02-12. Previous Versions
Marginal note:General limitation re expenses
67 In computing income, no deduction shall be made in respect of an outlay or expense in respect of which any amount is otherwise deductible under this Act, except to the extent that the outlay or expense was reasonable in the circumstances.
- [NOTE: Application provisions are not included in the consolidated text
- see relevant amending Acts and regulations.]
- 1970-71-72, c. 63, s. 1“67”
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