Words and Phrases - "taxable income earned in the year"

a
88
b
44
c
80
d
54
e
38
f
31
g
20
h
14
i
74
j
2
k
2
l
32
m
56
n
25
o
38
p
81
q
3
r
77
s
90
t
47
u
16
v
9
w
23
y
2

Noranda Mines Ltd. v. The Queen, 85 DTC 5001, [1984] CTC 659 (FCA)

Summary Under
Tax Topics - Income Tax Act - Section 124 - Subsection 124(4) - Taxable Income Earned in the Year in a Province

The words "taxable income earned in the year" in former s. 124(2)(b) referred to income for the year minus the deductions permitted by Division C for the taxation year, such as losses carried forward from prior years under section 111.

Words and Phrases
taxable income earned in the year