Tax wiki
s. 257
PART XVII — Interpretation
Negative amounts
Not yet annotated · Text current to 2026-06-21 · section last amended 2004-08-31
Current text
Except as specifically otherwise provided, where an amount or a number is required under this Act to be determined or calculated by or in accordance with an algebraic formula, if the amount or number when so determined or calculated would, but for this section, be a negative amount or number, it shall be deemed to be nil.
Source: Justice Laws Website. Not an official version.
Historic text
This section has not been amended since the start of the point-in-time record on 31 August 2004.
Earlier versions: Justice Laws point-in-time versions of the Act (from 31 August 2004), and CanLII (under “Versions”). On Justice Laws, each version of section 257 links to the one before it.
Enacting and amending legislation
- 1970-71-72, c. 63, s. 1 “257”; 1977-78, c. 1, s. 100, c. 22, s. 26(F); 1980-81-82-83, c. 140, s. 132; 1986, c. 6, s. 128
Text before 2004 is found in the annual Statutes of Canada cited above. Application and coming-into-force provisions are not part of the consolidation; see the amending Acts.
Cross-references
Citation
Income Tax Act, R.S.C. 1985, c. 1 (5th Supp.), s. 257.