Income Tax Act — I-3.3 66.4
 property that became receivable by the taxpayer before that time exceed any outlays or expenses made or incurred by the taxpayer before that time for the purpose of making the disposition and that were not otherwise deductible for the purposes of this Part exceeds the total of (b) the amount, if any, by which (i) the total of all amounts that would be determined under paragraph 66.7(5)(a), immediately before the time (in this paragraph and paragraph (c) referred to as the “relevant time”) when such proceeds of disposition became receivable, in respect of the taxpayer and an original owner of the particular property (or of any other property acquired by the taxpayer with the particular property in circumstances in which subsection 66.7(5) applied and in respect of which the proceeds of disposition became receivable by the taxpayer at the relevant time) if (A) amounts that became receivable at or after the relevant time were not taken into account, (B) each designation made under subparagraph 66.7(4)(a)(iii) in respect of an amount that became receivable before the relevant time were made before the relevant time, (C) paragraph 66.7(5)(a) were read without reference to “10% of”, and (D) no reduction under subsection 80(8) at or after the relevant time were taken into account exceeds the total of (ii) all amounts that would be determined under paragraph 66.7(5)(a) at the relevant time in respect of the taxpayer and an original owner of the particular property (or of that other property described in subparagraph (i)) if (A) amounts that became receivable after the relevant time were not taken into account, (B) each designation made under subparagraph 66.7(4)(a)(iii) in respect of an amount that became receivable at or before the relevant time were made before the relevant time, (C) paragraph 66.7(5)(a) were read without reference to “10% of”, and (D) no reduction under subsection 80(8) at or after the relevant time were taken into account, and (iii) such portion of the amount determined under this paragraph as was otherwise applied to reduce the amount otherwise determined under this description, and (c) the amount, if any, by which (i) the total of all amounts that would be determined under paragraph 66.7(4)(a), immediately before the relevant time, in respect of the taxpayer and an original owner of the particular property (or of any other property acquired by the taxpayer with the particular property in circumstances in which subsection 66.7(4) applied and in respect of which the proceeds of disposition became receivable by the taxpayer at the relevant time) if (A) amounts that became receivable at or after the relevant time were not taken into account, (B) each designation made under subparagraph 66.7(4)(a)(iii) in respect of an amount that became receivable before the relevant time were made before the relevant time, (C) paragraph 66.7(4)(a) were read without reference to “30% of”, and (D) no reduction under subsection 80(8) at or after the relevant time were taken into account exceeds the total of (ii) all amounts that would be determined under paragraph 66.7(4)(a) at the relevant time in respect of the taxpayer and an original owner of the particular property (or of that other property described in subparagraph (i)) if (A) amounts that became receivable after the relevant time were not taken into account, (B) each designation made under subparagraph 66.7(4)(a)(iii) in respect of an amount that became receivable at or before the relevant time were made before the relevant time, (C) paragraph 66.7(4)(a) were read without reference to “30% of”, (D) amounts described in subparagraph 66.7(4)(a)(ii) that became receivable at the relevant time were not taken into account, and (E) no reduction under subsection 80(8) at or after the relevant time were taken into account, and (iii) such portion of the amount otherwise determined under this paragraph as was otherwise applied to reduce the amount otherwise determined under this descri