Income Tax Act — I-3.3 66.2
sition and that were not otherwise deductible for the purposes of this Part exceeds (b) 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 time (in this paragraph 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(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) 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)(iii) 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 description, G is the total of all amounts that became receivable by the taxpayer before that time that are to be included in the amount determined under this description by virtue of paragraph 66(12.1)(b) or 66(12.3)(a), H is the total of all amounts each of which is an amount included by the taxpayer as an expense under paragraph (a) of the definition Canadian development expense in this subsection in computing the taxpayer’s Canadian development expense for a previous taxation year that has become a Canadian exploration expense of the taxpayer by virtue of subparagraph (c)(ii) of the definition Canadian exploration expense in subsection 66.1(6), I is the total of all amounts each of which is an amount that before that time has become a Canadian exploration expense of the taxpayer by virtue of subsection 66.1(9), J is the total of all amounts each of which is an amount received before that time on account of any amount referred to in the description of C K is the total of all amounts paid to the taxpayer after May 6, 1974 and before May 25, 1976 (a) under the Northern Mineral Exploration Assistance Regulations made under an appropriation Act that provides for payments in respect of the Northern Mineral Grants Program, or (b) pursuant to any agreement, entered into between the taxpayer and Her Majesty in right of Canada under the Northern Mineral Grants Program or the Development Program of the Department of Indian Affairs and Northern Development, to the extent that the amounts have been expended by the taxpayer as or on account of Canadian development expense incurred by the taxpayer, L is the amount by which the total of all amounts determined under subsection 66.4(1) in respect of a taxation year of the taxpayer ending at or before that time exceeds the total of all amounts each of which is the least of (a) the amount that would be determined under paragraph 66.7(4)(a), at a time (hereafter in this description referred to only as the “particular tim