Income Tax Act — I-3.3 60
Other deductions 60 There may be deducted in computing a taxpayer’s income for a taxation year such of the following amounts as are applicable Capital element of annuity payments (a) the capital element of each annuity payment included by virtue of paragraph 56(1)(d) in computing the taxpayer’s income for the year, that is to say, (i) if the annuity was paid under a contract, an amount equal to that part of the payment determined in prescribed manner to have been a return of capital, and (ii) if the annuity was paid under a will or trust, such part of the payment as can be established by the recipient not to have been paid out of the income of the estate or trust; Support (b) the total of all amounts each of which is an amount determined by the formula A - (B + C) where A is the total of all amounts each of which is a support amount paid after 1996 and before the end of the year by the taxpayer to a particular person, where the taxpayer and the particular person were living separate and apart at the time the amount was paid, B is the total of all amounts each of which is a child support amount that became payable by the taxpayer to the particular person under an agreement or order on or after its commencement day and before the end of the year in respect of a period that began on or after its commencement day, and C is the total of all amounts each of which is a support amount paid by the taxpayer to the particular person after 1996 and deductible in computing the taxpayer’s income for a preceding taxation year; Pension income reallocation (c) where the taxpayer is a pensioner (as defined in subsection 60.03(1)), any amount that is a split-pension amount (as defined in that subsection) in respect of the pensioner for the taxation year; (c.1) [Repealed, 1994, c. 7, Sch. VIII, s. 20(2)] Repayment of support payments (c.2) an amount paid by the taxpayer in the year or one of the 2 preceding taxation years under a decree, order or judgment of a competent tribunal as a repayment of an amount included under paragraph 56(1)(b) or 56(1)(c), or under paragraph 56(1)(c.1) (as it applies, in computing the taxpayer’s income for the year or a preceding taxation year, to decrees, orders and judgments made before 1993) to the extent that it was not so deducted for a preceding taxation year; Interest on death duties (d) an amount equal to annual interest accruing within the taxation year in respect of succession duties, inheritance taxes or estate taxes; CPP/QPP contributions on self-employed earnings (e) the total of (i) 1/2 of the lesser of (A) the total of all amounts each of which is an amount payable by the taxpayer in respect of self-employed earnings for the year as a contribution under subsection 10(1) of the Canada Pension Plan or as a like contribution under a provincial pension plan , as defined in section 3 of that Act, and (B) the maximum amount of such contributions payable by the taxpayer for the year under the plan, and (ii) the lesser of (A) the total of all amounts each of which is an amount payable by the taxpayer in respect of self-employed earnings for the year as a contribution under subsection 10(1.‍1) or (1.‍2) of the Canada Pension Plan or as a like contribution under a provincial pension plan , as defined in section 3 of that Act, and (B) the maximum amount of such contributions payable by the taxpayer for the year under the plan; Enhanced CPP contributions (e.1) the lesser of (i) the total of all amounts each of which is an amount payable by the taxpayer for the year as an employee’s contribution under subsection 8(1.‍1) or (1.‍2) of the Canada Pension Plan or as a like contribution under a provincial pension plan , as defined in section 3 of that Act, and (ii) the maximum amount of such contributions payable by the taxpayer for the year under the plan; Restrictive covenant — bad debt (f) all debts owing to a taxpayer that are established by the taxpayer to have become bad debts in the taxation year and that are in