1025 Meaning of “modified net income”
Income Tax Act 2007 (2007 c 3) | Legislation

1025  Meaning of “modified net income”

(1)     For the purposes of this Act a person's modified net income for a tax year (“year X”) is the person's net income for year X calculated in accordance with Steps 1 and 2 of section 23 (calculation of income tax liability) as modified by subsection (2).

(2)     In applying Steps 1 and 2 of section

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