Income Tax Act — I-3.3 18.21
ion of D or F that are included in the determination of the net income or loss of an equity-accounted entity, to the extent of the consolidated group’s share of that net income or loss; and B is the amount determined by the formula H + I + J + K + L + M + N where H is the amount, if any, of net loss reported in those statements, I is the amount, if any, of income tax recoverable reported in those statements, J is the specified interest income of the group for the period, K if an election is made under subsection (4) and the net fair value amount for the period is positive, the net fair value amount, L is the total of all amounts used in determining the amounts reported in those statements each of which is the amount of a gain on the disposal of an asset referred to in paragraph (a) of the description of F, to the extent that the sale proceeds do not exceed the original cost of the asset, M is the total of all amounts referred to in the descriptions of I, K and L that is included in the determination of the net income or loss of an equity-accounted entity, to the extent of the consolidated group’s share of that net income or loss, and N is the total of all amounts, each of which is the portion of net income reported in those statements that can reasonably be considered to be earned by a borrower (within the meaning of the definition exempt interest and financing expenses in subsection 18.2(1)) in respect of a borrowing (within the meaning of the definition exempt interest and financing expenses in subsection 18.2(1)) that results in exempt interest and financing expenses of the borrower. ( bénéfice net comptable rajusté du groupe ) group net interest expense , of a consolidated group for a relevant period, means the amount determined by the formula A − B where A is the amount determined by the formula C − D where C is the specified interest expense of the group for the period, and D is the specified interest income of the group for the period; and B is the total of all amounts each of which is an amount determined, in respect of a specified non-member of the group, by the formula E − F where E is the portion of the amount of the specified interest expense of the group for the period that is paid or payable to the specified non-member, and F is the portion of the amount of the specified interest income of the group for the period that is received or receivable from the specified non-member. ( dépenses nettes d’intérêts du groupe ) group ratio , of a consolidated group for a relevant period, means (a) except where paragraph (b) applies, the percentage determined by the formula 1.1 × A ÷ B where A is the group net interest expense of the consolidated group for the relevant period, and B is the group adjusted net book income of the consolidated group for the relevant period; and (b) if the group adjusted net book income of the consolidated group for the relevant period is nil, nil. ( ratio de groupe ) net fair value amount means the positive or negative amount that is the total of all amounts, each of which is a positive or negative fair value amount in the consolidated financial statements of the consolidated group for a relevant period. ( montant de la juste valeur net ) relevant period means a period in respect of which the consolidated financial statements of a consolidated group are presented. ( période pertinente ) specified interest expense , of a consolidated group for a relevant period, means the amount determined by the formula A − B where A is the total of all amounts (other than amounts that are included in exempt interest and financing expenses), each of which is (a) an amount of interest expense used in determining the amounts reported in the consolidated financial statements of the consolidated group for the relevant period, (b) an amount of capitalized interest used in determining the amounts reported in those statements, (c) the amount of a guarantee fee, standby charge, arrangement fee or similar fee paid or payab