I-3 - Taxation Act

Section 418.6.3 Disposition versions

2021-06-04

418.6.3. In this chapter, an accelerated Canadian oil and gas property expense of a taxpayer means any cost or expense incurred by the taxpayer in a taxation year, if

(a)  the cost or expense qualifies as a Canadian oil and gas property expense at the time it is incurred, other than

i.  an expense in respect of which the taxpayer is a corporation referred to in section  418.21, and

ii.  a cost in respect of a Canadian resource property acquired by the taxpayer, or a partnership of which the taxpayer is a member, from a person or partnership with whom or which the taxpayer does not deal at arm’s length; and

(b)  the cost or expense is incurred after 20 November 2018 and before 1 January 2028.

2021, c. 18, s. 42.