Versions of s. 118(11)

For the purpose of computing the tax payable under this Part by an individual for a taxation year that is after 2024 and before 2031, there may be deducted the amount determined by the formula(A − B × C) × D where A is the amount determined by the formula E + F where E is the total of all amounts each of which is an amount deducted by the individual in computing the individual’s tax payable for the year under this Part under any of subsections (1), (2), (3) and (10) or any of sections 118.01, 118.041, 118.05, 118.06, 118.07, 118.2, 118.3, 118.5, 118.61, 118.62, 118.7, 118.8 and 118.9, and F is the lesser of the amount deducted by the individual in computing the individual’s tax payable for the year under this Part under section 118.1, and$200 multiplied by the appropriate percentage for the year; B is the appropriate percentage for the year; C is the first dollar amount for the year referred to in paragraph 117(2)(b); and D is, if the taxation year is 2025, 3.45%, and in any other case, 7.14%.