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I-4 - Act respecting the application of the Taxation Act

Section 32
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32. In the case contemplated in section 28, each partner may deduct in computing his income for 1972 and subsequent years, to the extent that he has not done so for previous taxation years, the excess of the undepreciated capital cost of that property to him on 31 December 1971 over the portion of the undepreciated capital cost of that property to the partnership corresponding to his percentage of interest in that property if such property constituted a prescribed class.
1972, c. 24, s. 46.
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