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

Full text
7. For the purposes of the Taxation Act (chapter I-3), depreciation allowed to a taxpayer and the undepreciated portion of the capital cost of property to the taxpayer, at the commencement of his 1972 taxation year, are deemed to be the same as they were at the end of his 1971 taxation year and any excess of capital cost over the undepreciated capital cost of the property at the end of such last year is deemed to have been allowed to him as depreciation under the regulations made under paragraph a of section 130 of the said Act.
1972, c. 24, s. 21; 1975, c. 22, s. 264.