82. (1) Despite subsections 10 (5) and 19 (5) and section 81, an insurer may elect that, (a)  in the case of persons whose income from employment does not include income from self-employment, all determinations required by this Regulation of a person’s net weekly income from employment or net income in respect of an employment subsequent to an accident shall be made in accordance with the publication of the Ontario Insurance Commission dated November 25, 1993 and entitled “Net Weekly Income Table — Other than Self-Employment”; and (b)  in the case of persons whose income from employment consists only of income from self-employment, all determinations required by this Regulation of a person’s net weekly income from employment or net income in respect of an employment subsequent to an accident shall be made in accordance with the publication of the Ontario Insurance Commission dated November 25, 1993 and entitled “Net Weekly Income Table — Self-Employment”.  O. Reg. 776/93, s. 82 (1). (2) Subject to subsection (3), an election under subsection (1) applies to all persons described in subsection (1) in respect of whom determinations of net weekly income from employment and net income in respect of an employment subsequent to an accident are required by this Regulation.  O. Reg. 776/93, s. 82 (2). (3) An election under subsection (1) does not apply to, (a)  a determination of net weekly income from employment if the person’s gross annual income from employment exceeds $96,200; or (b)  a determination of net income in respect of an employment subsequent to an accident if the gross income received from the employment exceeds $1,850 per week.  O. Reg. 776/93, s. 82 (3). (4) An election under subsection (1) may be revoked.  O. Reg. 776/93, s. 82 (4). Income from Self-Employment

83. For the purpose of this Regulation, a person’s income from self-employment shall be determined in the same manner as the person’s profit from the business in which the person was self-employed would be determined under the Income Tax Act (Canada) and the Income Tax Act
(Ontario), but without taking into account, (a)  expenses that are eligible for capital cost allowance or an allowance on eligible capital property; (b)  capital gains or losses; or (c)  losses deductible under section 111 of the Income Tax Act (Canada).  O. Reg. 776/93, s. 83. Pre-Determined Income from Self-Employment

84. Despite section 83, an insurer and a named insured who is self-employed and not otherwise employed may agree in a contract evidenced by a motor vehicle liability policy that, for the purpose of determining benefits under this Regulation in respect of an accident that occurs during the period covered by the contract, the named insured’s gross income from self-employment for every week shall be deemed to be the weekly income amount specified in the contract if, at the time of the accident, the person continues to engage in the self-employment in which he or she engaged at the time the contract was entered into and the person is not otherwise employed.  O. Reg. 776/93, s. 84. Income Tax Calculations

85. (1) For the purpose of this Regulation, the income tax payable by a person under the Income Tax Act (Canada) and the Income Tax Act (Ontario) shall be determined having regard to only the following deductions and tax credits that apply to the person under those Acts: 1.  Alimony and maintenance payments deduction. 2.  Basic personal tax credit. 3.  Married person’s tax credit or equivalent to married tax credit. 4.  Age tax credit. 5.  Disability tax credit. 6.  Unemployment insurance premium tax credit. 7.  Canada Pension Plan tax credit. 8.  Quebec Pension Plan tax credit.  O. Reg. 776/93, s. 85 (1). (2) If a determination of the income tax payable by a person under the Income Tax Act (Canada) and the Income Tax Act
(Ontario) is necessary to determine the amount of a benefit under this Regulation, a person who applies for the benefit shall provide the insurer with such information as is reasonably necessary to enable the insurer to determine the income tax payable by the insured person under the Income Tax Act (Canada) and the Income Tax Act
(Ontario).  O. Reg. 776/93, s. 85 (2). (3) Failure to comply with subsection (2) does not relieve the insurer from any time limit established by this Regulation for the payment of the benefit, but the insurer shall determine the amount of the benefit on the basis of its best estimate of the income tax payable by the person under the Income Tax Act (Canada) and the Income Tax Act
(Ontario), subject to later adjustment of the amount of the benefit when subsection (2) is complied with.  O. Reg. 776/93, s. 85 (3). Conversion of Part-Time Income to Full-Time Income