Income Tax Act — I-3.3 152
ion year or under section 111 in respect of a loss for a subsequent taxation year, (c.1) [Repealed, 2013, c. 34, s. 309] (d) a deduction under subsection 127(5) in respect of property acquired or an expenditure made in a subsequent taxation year, (e) [Repealed, 2013, c. 34, s. 309] (f) a deduction under section 125.3 in respect of an unused Part I.3 tax credit (within the meaning assigned by subsection 125.3(3)) for a subsequent taxation year, (f.1) a deduction under subsection 126(2) in respect of an unused foreign tax credit (within the meaning assigned by subsection 126(7)), or under subsection 126(2.21) or (2.22) in respect of foreign taxes paid, for a subsequent taxation year, (f.2) a deduction under subsection 128.1(8) as a result of a disposition in a subsequent taxation year, (f.3) a deduction (including for the purposes of this subsection a reduction of an amount otherwise required to be included in computing a taxpayer’s income) under subsection 146(8.9) or (8.92), 146.3(6.2) or (6.3) or 147.5(14) or (19), (g) a deduction under subsection 147.2(4) because of the application of subsection 147.2(6) as a result of the taxpayer’s death in the subsequent taxation year, or (h) a deduction by virtue of an election for a subsequent taxation year under paragraph 164(6)(c) or 164(6)(d) by the taxpayer’s legal representative, by filing with the Minister, on or before the day on or before which the taxpayer is, or would be if a tax under this Part were payable by the taxpayer for that subsequent taxation year, required by section 150 to file a return of income for that subsequent taxation year, a prescribed form amending the return, the Minister shall reassess the taxpayer’s tax for any relevant taxation year (other than a taxation year preceding the particular taxation year) in order to take into account the deduction claimed. Reassessment if amount under subsection 91(1) is reduced (6.1) If (a) a taxpayer has filed for a particular taxation year the return of income required by section 150, (b) the amount included in computing the taxpayer’s income for the particular year under subsection 91(1) is subsequently reduced because of a reduction in the foreign accrual property income of a foreign affiliate of the taxpayer for a taxation year (referred to in this paragraph as the “claim year”) of the affiliate that ends in the particular year, if (i) the reduction is (A) attributable to a foreign accrual property loss (within the meaning assigned by subsection 5903(3) of the Income Tax Regulations ) of the affiliate for a taxation year of the affiliate that ends in a subsequent taxation year of the taxpayer, and (B) included in the description of F in the definition foreign accrual property income in subsection 95(1) in respect of the affiliate for the claim year, or (ii) the reduction is (A) attributable to a foreign accrual capital loss (within the meaning assigned by subsection 5903.1(3) of the Income Tax Regulations ) of the affiliate for a taxation year of the affiliate that ends in a subsequent taxation year of the taxpayer, and (B) included in the description of F.1 in the definition foreign accrual property income in subsection 95(1) in respect of the affiliate for the claim year, and (c) the taxpayer has filed with the Minister, on or before the filing-due date for that subsequent taxation year, a prescribed form amending the return, the Minister shall reassess the taxpayer’s tax for any relevant taxation year (other than a taxation year preceding the particular year) in order to take into account the reduction in the amount included under subsection 91(1) in computing the income of the taxpayer for the particular year. Extended reassessment period (6.2) The Minister shall reassess a taxpayer’s tax for a particular taxation year, in order to take into account the application of paragraph (d) of the definition excluded property in subsection 142.2(1), or the application of subsection 142.6(1.6), in respect of property held b