Bill C-227

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	1st Session, 36th Parliament, 46 Elizabeth II, 1997
	The House of Commons of Canada
	BILL C-227
	An Act to amend the Income Tax Act (income deferral from forced destruction of livestock or natural disaster)
R.S., c. 1 (5th Supp.); 1994, cc. 7, 8, 13, 21, 29, 38, 41; 1995, cc. 1, 3, 11, 18, 21, 38, 46	Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:
	*1. Subsection 80.3(2) of the Income Tax Act* is replaced by the following:**
Income deferral from the forced destruction of livestock or a natural disaster	(2) Where a particular amount in respect of
	(a) the forced destruction of livestock under statutory authority in a taxation year of a taxpayer, or
	(b) a natural disaster under statutory author ity in a taxation year of a taxpayer
	is included in computing the income of the taxpayer for the year from a farming business, there may be deducted in computing that in come such amount as the taxpayer claims not exceeding the particular amount.

BILL C-227