Income Tax Act — I-3.3 66
 the assistance reported in the document; and (c) where the penalty is in respect of a renunciation referred to in subsection 66(12.741), the greater of (i) $100, and (ii) 1/4 of 1% of the amount of the renunciation. Limitation (13) Where a taxpayer has incurred an outlay or expense in respect of which a deduction from income is authorized under more than one provision of this section or section 66.1, 66.2 or 66.4, the taxpayer is not entitled to make the deduction under more than one provision but is entitled to select the provision under which to make the deduction. Short taxation year (13.1) If a taxpayer has a taxation year that is less than 51 weeks, the amount determined in respect of the year under each of subparagraph (4)(b)(i), paragraphs 66.2(2)(c) and (d), subparagraph (b)(i) of the definition global foreign resource limit in subsection 66.21(1), subparagraph 66.21(4)(a)(i), clause 66.21(4)(a)(ii)(B) and paragraphs 66.4(2)(b) and (c) and 66.7(2.3)(a), (4)(a) and (5)(a) shall not exceed that proportion of the amount otherwise determined that the number of days in the year is of 365. Amounts deemed deductible under this Subdivision (14) For the purposes of section 3, any amount deductible under the Income Tax Application Rules in respect of this subsection shall be deemed to be deductible under this Subdivision. Designation respecting Canadian exploration expense (14.1) A corporation may designate for a taxation year, by filing a designation in prescribed form with the Minister on or before the day on or before which it is required to file a return of its income for the year under section 150, a particular amount not exceeding the lesser of (a) its prescribed Canadian exploration expense for the year, and (b) its cumulative Canadian exploration expense at the end of the year, and the particular amount shall be added in computing its cumulative offset account immediately before the end of the year and deducted in computing its cumulative Canadian exploration expense at any time after the end of the year. Designation respecting cumulative Canadian development expense (14.2) A corporation may designate for a taxation year, by filing a designation in prescribed form with the Minister on or before the day on or before which it is required to file a return of its income for the year under section 150, a particular amount not exceeding (a) where a deduction has been made under subsection 66.2(2) in computing its income for the year, the lesser of (i) 30% of its prescribed Canadian development expense for the year, and (ii) the amount, if any, by which 30% of its cumulative Canadian development expense at the end of the year exceeds the amount, if any, deducted for the year under subsection 66.2(2) in computing its income for the year, or (b) where a deduction has not been made under subsection 66.2(2) in computing its income for the year, the lesser of (i) 30% of its prescribed Canadian development expense for the year, and (ii) 30% of the amount, if any, of its adjusted cumulative Canadian development expense at the end of the year, and the particular amount shall be added in computing its cumulative offset account immediately before the end of the year and deducted in computing its cumulative Canadian development expense at any time after the end of the year. Definition of adjusted cumulative Canadian development expense (14.3) For the purposes of paragraph 66(14.2)(b), adjusted cumulative Canadian development expense of a corporation at the end of a taxation year means the amount, if any, that would be its cumulative Canadian development expense at the end of the year, if no Canadian resource property were disposed of by it in the year. Special cases (14.4) Where, in the opinion of the Minister, the circumstances of a case are such that it would be just and equitable (a) to permit a designation under subsection 66(14.1) or 66(14.2) to be filed after the day on or before which it is required by that subsection to be filed,