I-3, r. 1 - Regulation respecting the Taxation Act

Section 130r190 Disposition versions

2012-09-01

130R190. A separate class is hereby prescribed for all property of a corporation included in Class 10 in Schedule B under subparagraph s of the second paragraph of that class that is property

(a)  in respect of which the corporation is deemed under subsection 3 of section 125.4 of the Income Tax Act (R.S.C. 1985, c. 1 (5th Suppl.)) to have paid an amount on account of its tax payable under Part I of that Act for a taxation year; or

(b)  acquired from another corporation where

i.  the other corporation is deemed under subsection 3 of section 125.4 of the Income Tax Act to have paid an amount on account of its tax payable under Part I of that Act for a taxation year in respect of the property, and

ii.  the corporations are related to each other throughout the period that began when the other corporation first incurred a qualified labour expenditure, within the meaning of subsection 1 of section 125.4 of the Income Tax Act, in respect of the property and that ended when the other corporation disposed of the property to the corporation.

s. 130R98.3.1; O.C. 1249-2005, s. 9; O.C. 134-2009, s. 1.