where
	V is 1/2 of the value determined for A under subsection 20(4.2) in respect of the corporation for the last such taxation year that ended in the period, and
	W is 1/3 of the value determined for B under subsection 20(4.2) in respect of the corporation for the last such taxation year that ended in the period, and
	(C) in any other case, nil, and
	(v) the amount, if any, by which
	(A) the total of all amounts each of which is an amount required by paragraph 14(1)(b) to be included in computing the corporation's income in respect of a business carried on by the corporation for a taxation year that is included in the period and that ends after October 17, 2000,
	exceeds
	(B) where the corporation has deducted an amount under subsection 20(4.2) in respect of a debt established by it to have become a bad debt in a taxation year that is included in the period and that ends after October 17, 2000, or has an allowable capital loss for such a year because of the application of subsection 20(4.3), the amount determined by the formula
	X + Y
	where
	X is the value determined for A under subsection 20(4.2) in respect of the corporation for the last such taxation year that ended in the period, and
	Y is 1/3 of the value determined for B under subsection 20(4.2) in respect of the corporation for the last such taxation year that ended in the period, and
	(C) in any other case, nil;
	(4) The portion of paragraph 55(5)(e) of the French version of the Act before subparagraph (i) is replaced by the following:
	e) pour déterminer si des personnes sont liées entre elles, si une personne est un actionnaire déterminé d'une société et si le contrôle d'une société a été acquis par une personne ou un groupe de personnes, les règles suivantes s'appliquent :
	(5) Subparagraph 55(5)(e)(iv) of the Act is replaced by the following:
	(iv) this Act shall be read without reference to subsection 251(3) and paragraph 251(5)(b); and
	(6) Subsections (1) and (2) apply to transfers that occur after 1998.
	(7) Subsection (3) applies in respect of taxation years that end after February 27, 2000.
	(8) Subsections (4) and (5) apply to dividends that are received after November 1999, other than dividends received as part of a transaction or event, or a series of transactions or events, that was required before December 1, 1999 to be carried out pursuant to a written agreement made before that day.
	39. (1) The portion of paragraph 56(1)(n) of the Act after subparagraph (i) is replaced by the following:
	exceeds
	(ii) the taxpayer's scholarship exemption for the year computed under subsection (3);
	(2) Section 56 of the Act is amended by adding the following after subsection (2):
Exemption for scholarships, fellowships, bursaries and prizes	(3) For the purpose of subparagraph (1)(n)(ii), a taxpayer's scholarship exemption for a taxation year is the greatest of
	(a) $500,
	(b) the lesser of
	(i) $3,000 and
	(ii) the total of all amounts each of which is the amount included under subparagraph (1)(n)(i) in computing the taxpayer's income for the year in respect of a scholarship, fellowship or bursary received in connection with the taxpayer's enrolment in an educational program in respect of which an amount may be deducted under subsection 118.6(2) in computing the taxpayer's tax payable under this Part for the year, and
	(c) the total of all amounts each of which is the lesser of
	(i) the amount included under subparagraph (1)(n)(i) in computing the taxpayer's income for the year in respect of a scholarship, fellowship, bursary or prize that is to be used by the taxpayer in the production of a literary, dramatic, musical or artistic work, and
	(ii) the total of all amounts each of which is an expense incurred by the taxpayer in the year for the purpose of fulfilling the conditions under which the amount described in subparagraph (i) was received, other than
	(A) personal or living expenses of the taxpayer (except expenses in respect of travel, meals and lodging incurred by the taxpayer in the course of fulfilling those conditions and while absent from the taxpayer's usual place of residence for the period to which the scholarship, fellowship, bursary or prize, as the case may be, relates),
	(B) expenses for which the taxpayer is entitled to be reimbursed, and
	(C) expenses that are otherwise deductible in computing the taxpayer's income.
	(3) Subsections (1) and (2) apply to the 2000 and subsequent taxation years.
	40. (1) Subsection 59(1) of the Act is replaced by the following:
Considera- tion for foreign resource property	59. (1) Where a taxpayer has disposed of a foreign resource property, there shall be included in computing the taxpayer's income for a taxation year the amount, if any, by which
	(a) the portion of the taxpayer's proceeds of disposition from the disposition of the property that becomes receivable in the year
	exceeds
	(b) the total of
	(i) all amounts each of which is an outlay or expense made or incurred by the taxpayer for the purpose of making the disposition that was not otherwise deductible for the purposes of this Part, and
	(ii) where the property is a foreign resource property in respect of a country, the amount designated under this subparagraph in prescribed form filed with the taxpayer's return of income for the year in respect of the disposition.
Partnerships	(1.1) Where a taxpayer is a member of a partnership in a fiscal period of the partnership, the taxpayer's share of the amount that would be included under subsection (1) in respect of a disposition of a foreign resource property in computing the partnership's income for a taxation year if the partnership were a person, the fiscal period were a taxation year, subsection (1) were read without reference to subparagraph (1)(b)(ii) and section 96 were read without reference to paragraph 96(1)(d) is deemed to be proceeds of disposition that become receivable by the taxpayer at the end of the fiscal period in respect of a disposition of the property by the taxpayer.
	(2) Subsection 59(3.2) of the Act is amended by adding the following after paragraph (c):
	(c.1) any amount referred to in subsection 66.21(3);
	(3) Subsection 59(5) of the Act is replaced by the following:
Definition of ``proceeds of disposition''	(5) In this section, ``proceeds of disposition'' has the meaning assigned by section 54.
	(4) Subsection 59(1) of the Act, as enacted by subsection (1), and subsection (2) apply to taxation years that begin after 2000.
	(5) Subsection 59(1.1) of the Act, as enacted by subsection (1), applies to fiscal periods that begin after 2000.
	(6) Subsection (3) applies to transactions and events that occur after December 23, 1998.
	41. (1) Section 60 of the Act is amended by adding the following after paragraph (d):
CPP/QPP contributions on self-employed earnings	(e) 1/2 of the lesser of
	(i) the total of all amounts each of which is an amount payable by the taxpayer in respect of self-employed earnings for the year as a contribution under the Canada Pension Plan or under a provincial pension plan within the meaning assigned by section 3 of that Act, and
	(ii) the maximum amount of such contributions payable by the taxpayer for the year under the plan;
	(2) Subsection (1) applies to the 2001 and subsequent taxation years.
	42. (1) Paragraph 63(1)(a) of the Act is replaced by the following:
	(a) by the taxpayer, where the taxpayer is described in subsection (2) and the supporting person of the child for the year is a person described in clause (i)(D) of the description of C in the formula in that subsection , or
	(2) Subparagraph 63(1)(e)(ii) of the Act is replaced by the following:
	(ii) the total of all amounts each of which is the annual child care expense amount in respect of an eligible child of the taxpayer for the year
	(3) The formula in paragraph 63(2)(b) of the Act is replaced by the following:
	A x C
	(4) The descriptions of A and B in paragraph 63(2)(b) of the Act are replaced by the following:
	A is the total of all amounts each of which is the periodic child care expense amount in respect of an eligible child of the taxpayer for the year, and
	(5) The formula in paragraph 63(2.3)(c) of the Act is replaced by the following:
	A x C
	(6) The descriptions of A and B in paragraph 63(2.3)(c) of the Act are replaced by the following:
	A is the total of all amounts each of which is the periodic child care expense amount in respect of an eligible child of the taxpayer for the year, and
	(7) Paragraph (c) of the definition ``child care expense'' in subsection 63(3) of the Act is replaced by the following:
	(c) any such expenses paid in the year for a child's attendance at a boarding school or camp to the extent that the total of those expenses exceeds the product obtained when the periodic child care expense amount in respect of the child for the year is multiplied by the number of weeks in the year during which the child attended the school or camp, and
	(8) Paragraph (b) of the definition ``earned income'' in subsection 63(3) of the Act is replaced by the following:
	(b) all amounts that are included, or that would, but for paragraph 81(1)(a) or subsection 81(4) , be included, because of section 6 or 7 or paragraph 56(1)(n), (o) or (r), in computing the taxpayer's income,
	(9) Subsection 63(3) of the Act is amended by adding the following in alphabetical order:
``annual child care expense amount'' « montant annuel de frais de garde d'enfants »	``annual child care expense amount'', in respect of an eligible child of a taxpayer for a taxation year, means
	(a) $10,000, where the child is a person in respect of whom an amount may be deducted under section 118.3 in computing a taxpayer's tax payable under this Part for the year, and
	(b) where the child is not a person referred to in paragraph (a),
	(i) $7,000, where the child is under 7 years of age at the end of the year, and
	(ii) $4,000, in any other case;
``periodic child care expense amount'' « montant périodique de frais de garde d'enfants »	``periodic child care expense amount'', in respect of an eligible child of a taxpayer for a taxation year, means 1/40 of the annual child care expense amount in respect of the child for the year;
	(10) Subsections (1) and (8) apply to the 1998 and subsequent taxation years.
	(11) Subsections (2) to (7) and (9) apply to the 2000 and subsequent taxation years.
	43. (1) Subparagraph (i) of the description of A in paragraph 64(a) of the Act is amended by striking out the word ``or'' at the end of clause (B) and by adding the following after clause (B):
	(C) attend a designated educational institution or a secondary school at which the taxpayer is enrolled in an educational program, or
	(2) Paragraph 64(b) of the Act is replaced by the following:
	(b) 2/3 of the total of
	(i) the total of all amounts each of which is
	(A ) an amount included under section 5, 6 or 7 or paragraph 56(1)(n), (o) or (r ) in computing the taxpayer's income for the year, or
	(B ) the taxpayer's income for the year from a business carried on either alone or as a partner actively engaged in the business, and
	(ii) where the taxpayer is in attendance at a designated educational institution or a secondary school at which the taxpayer is enrolled in an educational program, the least of
	(A) $15,000,
	(B) $375 times the number of weeks in the year during which the taxpayer is in attendance at the institution or school, and
	(C) the amount, if any, by which the amount that would, if this Act were read without reference to this section, be the taxpayer's income for the year exceeds the total determined under subparagraph (i) in respect of the taxpayer for the year.
	(3) Subsections (1) and (2) apply to the 2000 and subsequent taxation years.
	44. (1) Subparagraph 66(4)(a)(i) of the Act is replaced by the following:
	(i) the total of the foreign exploration and development expenses incurred by the taxpayer