Income Tax Act — I-3.3 111
ayer’s loss for the year from a farming or fishing business exceeds (ii) the total of all amounts each of which is the taxpayer’s income for the year from a farming or fishing business, and (b) the amount that would be the taxpayer’s non-capital loss for the year if the amount determined for D in the definition non-capital loss in this subsection were nil, and B [Repealed, 2000, c. 19, s. 19] C is the total of all amounts by which the farm loss of the taxpayer for the year is required to be reduced because of section 80; ( perte agricole ) foreign currency debt means a debt obligation denominated in a currency of a country other than Canada; ( dette en monnaie étrangère ) net capital loss of a taxpayer for a taxation year means the amount determined by the formula A - B + C - D where A is the amount, if any, determined under subparagraph 3(b)(ii) in respect of the taxpayer for the year, B is the lesser of the total determined under subparagraph 3(b)(i) in respect of the taxpayer for the year and the amount determined for A in respect of the taxpayer for the year, C is the least of (a) the amount of the allowable business investment losses of the taxpayer for the taxpayer’s tenth preceding taxation year, (b) the amount, if any, by which the amount of the non-capital loss of the taxpayer for the taxpayer’s tenth preceding taxation year exceeds the total of all amounts in respect of that non-capital loss deducted in computing the taxpayer’s taxable income or claimed by the taxpayer under paragraph 186(1)(c) or (d) for the year or for any preceding taxation year, and (c) if the taxpayer was subject to a loss restriction event before the end of the year and after the end of the taxpayer’s tenth preceding taxation year, nil, and D is the total of all amounts by which the net capital loss of the taxpayer for the year is required to be reduced because of section 80; ( perte en capital nette ) non-capital loss of a taxpayer for a taxation year means, at any time, the amount determined by the formula (A + B) - (D + D.1 + D.2) where A is the amount determined by the formula E - F where E is the total of all amounts each of which is (a) the taxpayer’s loss for the year from an office, employment, business or property, (a.1) an amount deductible under paragraph 104(6)(a.4) in computing the taxpayer’s income for the year, (b) an amount deducted under paragraph (1)(a.1) or (b) or section 110.6, 110.61 or 110.62, or deductible under any of paragraphs 110(1)(d) to (g) and (k), section 112 and subsections 113(1) and 138(6), in computing the taxpayer’s taxable income for the year, or (c) if that time is before the taxpayer’s eleventh following taxation year, the taxpayer’s allowable business investment loss for the year, and F is the amount determined under paragraph 3(c) in respect of the taxpayer for the year, B is the amount, if any, determined in respect of the taxpayer for the year under section 110.5 or subparagraph 115(1)(a)(vii), C [Repealed, 2000, c. 19, s. 19] D is the amount that would be the taxpayer’s farm loss for the year if the amount determined for B in the definition farm loss in this subsection were zero, D.1 is the total of all amounts deducted under subsection 111(10) in respect of the taxpayer for the year, and D.2 is the total of all amounts by which the non-capital loss of the taxpayer for the year is required to be reduced because of section 80; ( perte autre qu’une perte en capital ) pre-1986 capital loss balance of an individual for a particular taxation year means the amount determined by the formula (A + B) - (C + D + E + E.1) where A is the total of all amounts each of which is an amount determined by the formula F - G where F is the individual’s net capital loss for a taxation year ending before 1985, and G is the total of all amounts claimed under this section by the individual in respect of that loss in computing the individual’s taxable income for taxation years preceding the particular taxation year, and B is t