Income Tax Act — I-3.3 110.6
rom property, (e) the amount, if any, by which (i) the total of all amounts (other than amounts in respect of income-averaging annuity contracts or annuity contracts purchased under deferred profit sharing plans or plans referred to in subsection 147(15) as revoked plans) included under paragraph 56(1)(d) of this Act or paragraph 56(1)(d.1) of the Income Tax Act , chapter 148 of the Revised Statutes of Canada, 1952, in computing the individual’s income for the year exceeds (ii) the total of all amounts deducted under paragraph 60(a) in computing the individual’s income for the year, and (f) the amount, if any, by which the total of all amounts included under paragraph 3(b) in respect of capital gains and capital losses in computing the individual’s income for the year exceeds the amount determined in respect of the individual for the year for A in the definition annual gains limit ; ( revenu de placements ) non-qualifying real property [Repealed, 1995, c. 3, s. 32] qualified farm or fishing property , of an individual (other than a trust that is not a personal trust) at any time, means a property that is owned at that time by the individual, the spouse or common-law partner of the individual or a partnership, an interest in which is an interest in a family farm or fishing partnership of the individual or the individual’s spouse or common-law partner and that is (a) real or immovable property or a fishing vessel that was used in the course of carrying on a farming or fishing business in Canada by, (i) the individual, (ii) if the individual is a personal trust, a beneficiary of the trust that is entitled to receive directly from the trust any income or capital of the trust, (iii) a spouse, common-law partner, child or parent of an individual referred to in subparagraph (i) or (ii), (iv) a corporation, a share of the capital stock of which is a share of the capital stock of a family farm or fishing corporation of an individual referred to in any of subparagraphs (i) to (iii), or (v) a partnership, an interest in which is an interest in a family farm or fishing partnership of an individual referred to in any of subparagraphs (i) to (iii), (b) a share of the capital stock of a family farm or fishing corporation of the individual or the individual’s spouse or common-law partner, (c) an interest in a family farm or fishing partnership of the individual or the individual’s spouse or common-law partner, or (d) a property included in Class 14.1 of Schedule II to the Income Tax Regulations , used by a person or partnership referred to in any of subparagraphs (a)(i) to (v), or by a personal trust from which the individual acquired the property, in the course of carrying on a farming or fishing business in Canada; ( bien agricole ou de pêche admissible ) qualified farm property [Repealed, 2014, c. 39, s. 30] qualified fishing property [Repealed, 2014, c. 39, s. 30] qualified small business corporation share of an individual (other than a trust that is not a personal trust) at any time (in this definition referred to as the “determination time”) means a share of the capital stock of a corporation that, (a) at the determination time, is a share of the capital stock of a small business corporation owned by the individual, the individual’s spouse or common-law partner or a partnership related to the individual, (b) throughout the 24 months immediately preceding the determination time, was not owned by anyone other than the individual or a person or partnership related to the individual, and (c) throughout that part of the 24 months immediately preceding the determination time while it was owned by the individual or a person or partnership related to the individual, was a share of the capital stock of a Canadian-controlled private corporation more than 50% of the fair market value of the assets of which was attributable to (i) assets used principally in an active business carried on primarily in Canada by the corporation or by a corporation rel