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Income Tax Act

Version of section 11 from 2013-12-12 to 2023-09-13:

Marginal note:Proprietor of business

  •  (1) Subject to section 34.1, if an individual is a proprietor of a business, the individual’s income from the business for a taxation year is deemed to be the individual’s income from the business for the fiscal periods of the business that end in the year.

  • Marginal note:Reference to “taxation year”

    (2) Where an individual’s income for a taxation year includes income from a business the fiscal period of which does not coincide with the calendar year, unless the context otherwise requires, a reference in this Subdivision or section 80.3 to a “taxation year” or “year” shall, in respect of the business, be read as a reference to a fiscal period of the business ending in the year.

  • [NOTE: Application provisions are not included in the consolidated text
  • see relevant amending Acts and regulations.]
  • R.S., 1985, c. 1 (5th Supp.), s. 11
  • 1994, c. 21, s. 5
  • 1996, c. 21, s. 3
  • 2013, c. 40, s. 3
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