Income Tax Act — I-3.3 118.1
l charitable gifts for the year, (ii) the individual’s income for the year where the individual dies in the year or in the following taxation year, and (iii) in any other case, the lesser of the individual’s income for the year and the amount determined by the formula 0.75A + 0.25 (B + C + D - E) where A is the individual’s income for the year, B is the total of all amounts, each of which is that proportion of the individual’s taxable capital gain for the taxation year in respect of a gift made by the individual in the taxation year (in respect of which gift an eligible amount is included in the individual’s total charitable gifts for the taxation year) that the eligible amount of the gift is of the individual’s proceeds of disposition in respect of the gift, C is the total of all amounts each of which is a taxable capital gain of the individual for the year, because of subsection 40(1.01), from a disposition of a property in a preceding taxation year, D is the total of all amounts each of which is determined in respect of the individual’s depreciable property of a prescribed class and equal to the lesser of (A) the amount included under subsection 13(1) in respect of the class in computing the individual’s income for the year, and (B) the total of all amounts each of which is determined in respect of a disposition that is the making of a gift of property of the class made by the individual in the year (in respect of which gift an eligible amount is included in the individual’s total charitable gifts for the taxation year) equal to the lesser of (I) that proportion, of the amount by which the proceeds of disposition of the property exceed any outlays and expenses, to the extent that they were made or incurred by the individual for the purpose of making the disposition, that the eligible amount of the gift is of the individual’s proceeds of disposition in respect of the gift, and (II) that proportion, of the capital cost to the individual of the property, that the eligible amount of the gift is of the individual’s proceeds of disposition in respect of the gift, and E is the total of all amounts each of which is the portion of an amount deducted under section 110.6 in computing the individual’s taxable income for the year that can reasonably be considered to be in respect of a gift referred to in the description of B or C, (b) [Repealed, 2014, c. 39, s. 34] (c) the individual’s total cultural gifts for the year, and (d) the individual’s total ecological gifts for the year. ( total des dons ) Proof of gift (2) An eligible amount of a gift is not to be included in the total charitable gifts, total cultural gifts or total ecological gifts of an individual unless the making of the gift is evidenced by filing with the Minister (a) a receipt for the gift that contains prescribed information; (b) in the case of a gift described in the definition total cultural gifts in subsection (1), the certificate issued under subsection 33(1) of the Cultural Property Export and Import Act ; and (c) in the case of a gift described in the definition total ecological gifts in subsection (1), both certificates referred to in that definition. Ordering of gifts (2.1) For the purpose of determining an individual’s total charitable gifts, total cultural gifts and total ecological gifts for a taxation year, no amount in respect of a gift described in any of the definitions of those expressions and made in a particular taxation year is to be considered to have been included in determining an amount that was deducted under this section in computing the individual’s tax payable under this Part for a taxation year until amounts in respect of such gifts made in taxation years preceding the particular year that can be so considered are so considered. Deduction by individuals for gifts (3) For the purpose of computing the tax payable under this Part by an individual for a taxation year, there may be deducted such amount as the individual claims not exceeding the a