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

Section 130r0.2 Disposition versions

2023-03-15

130R0.2. An eligible person or partnership may deduct, in computing income for a taxation year, as allowances in respect of capital cost of property, in addition to the amount prescribed by section 130R1, an amount equal to the least of

(a)  the eligible person or partnership’s immediate expensing limit for the taxation year;

(b)  the undepreciated capital cost, as of the end of the taxation year, of property that is designated immediate expensing property of the eligible person or partnership for the taxation year, such undepreciated capital cost being determined before making any deduction under this Title for the taxation year; and

(c)  if the eligible person or partnership is not a Canadian-controlled private corporation, the income, if any, computed without reference to paragraph a of section 130 of the Act, earned from a source that is a business or property in which the relevant designated immediate expensing property is used for the eligible person or partnership’s taxation year.

S.Q. 2023, c. 2, s. 95.