Income Tax Regulations — 2400
in respect of the disposition of which section 142.4 of the Act applies, or (vi) the insurer’s taxable capital gain for the year from the disposition of a Canadian business property of the insurer for the year in respect of the insurer’s life insurance business exceeds (b) the total of all amounts each of which is (i) the portion of the amount deducted under paragraph 20(1)(l) of the Act in computing the insurer’s income for the year that is in respect of Canadian business property of the insurer for the year in respect of the insurer’s life insurance business, (ii) the amount deductible under section 142.4 of the Act in computing the insurer’s income for the year in respect of a property disposed of by the insurer that was, in the taxation year of disposition, a Canadian business property of the insurer for that year in respect of the insurer’s life insurance business, (iii) the insurer’s loss for the year from the disposition of a Canadian business property of the insurer for the year in respect of the insurer’s life insurance business, other than a capital property or a property in respect of the disposition of which section 142.4 of the Act applies, or (iv) the insurer’s allowable capital loss for the year from the disposition of a Canadian business property of the insurer for the year in respect of the insurer’s life insurance business. ( revenus bruts de placements en assurance-vie au Canada ) group of insurance contracts of an insurer has the same meaning as in subsection 138(12) of the Act. ( groupe de contrats d’assurance ) group of reinsurance contracts held by an insurer has the same meaning as in subsection 138(12) of the Act. ( groupe de contrats de réassurance ) group of segregated fund policies of an insurer has the same meaning as in subsection 138(12) of the Act. ( groupe de polices à fonds réservé ) investment property of an insurer for a taxation year means non-segregated property owned by the insurer, other than a policy loan payable to the insurer, at any time in the year that is (a) property acquired by the insurer for the purpose of earning gross investment revenue in the year, other than property that is (i) property, a proportion of which is investment property of the insurer for the year because of paragraph (b), (ii) a share of the capital stock of, or a debt owing to the insurer by, a corporation affiliated with the insurer, or (iii) an interest in a partnership or trust; (b) that proportion, if any, of property of the insurer that is land, depreciable property or property that would have been depreciable property if it had been situated in Canada and used or held by the insurer in the year in the course of carrying on an insurance business in Canada that (i) the use made of the property by the insurer in the year for the purpose of earning gross investment revenue in the year is of (ii) the whole use made of the property by the insurer in the year; (c) if the insurer is a life insurer, property described in any of paragraphs 138(4.4)(a) to (d) of the Act; (d) either (i) a share of the capital stock of, or a debt owing to the insurer by, a corporation (other than a corporation that is a financial institution) affiliated with the insurer, if the total value for the year of all investment property of the corporation for the year is not less than 75% of the total value for the year of all its property, or (ii) an interest in a partnership or trust, if the total value for the year of all investment property of the partnership or trust, as the case may be, for the year is not less than 75% of the total value for the year of all its property, and for the purpose of this paragraph (other than for the purpose of determining whether a corporation is a financial institution) every corporation, partnership and trust is deemed to be an insurer; or (e) an amount due or an amount accrued to the insurer on account of income that (i) is from designated insurance property for the year that is investment property of