1971 receivabless income for any such taxation year, other than debts that were established by the taxpayer to have become bad debts before the end of the 1971 fiscal period of the business, and(b)the total of all amounts each of which is an amount, in respect of each partnership by means of which the taxpayer carried on that business before 1972, equal to such portion of the total that would be determined under paragraph (a) in respect of the partnership, if the references in that paragraph to “the taxpayer” were read as references to “the partnership”, as is designated by the taxpayer in the taxpayer’s return of income under Part I of the amended Act for the year to be attributable to the taxpayer, except that where the total of the portions so designated by all members of the partnership is less than the total that would be so d
Income Tax Act, chapter 148 of the Revised Statutes of Canada, 1952impôt sur le revenu, chapitre 148 des Statuts revisés du Canada de 1952)
Income Tax Application Rules, 1971, Part III of chapter 63 of the Statutes of Canada, 1970-71-72application de l’impôt sur le revenu, Partie III du chapitre 63 des Statuts du Canada de 1970-71-72)
investment interests income for that or a preceding taxation year as were receivable by the taxpayer at the end of the fiscal period of the proprietorship ending in the taxation year,exceeds(B)the amount claimed under paragraph 20(1)(l) of the amended Act as a reserve for doubtful debts in computing the taxpayer’s income from the business for the fiscal period of the proprietorship ending in the year, and(ii)in respect of each such partnership, the adjusted cost base to the taxpayer of the taxpayer’s interest in the partnership immediately after the end of the fiscal period of the partnership ending in the year,(b)in the case of a taxpayer that is a corporation, the lesser of(i)the amount thereof that would be determined under paragr
The 1948 Income Tax Actimpôt sur le revenu (1948))
undepreciated cost to the partnerships percentage in respect of property of that class, and(c)select the amount determined under paragraph (b) for a person described therein that is not greater than any amount so determined for any other such person,and the amount selected under paragraph (c) is the undepreciated cost to the partnership of that class. (fraction non amortie du coût, pour la société de personnes)