130R112. Where a taxpayer has acquired property described in subparagraph l of the second paragraph of Class 10 in Schedule B or subparagraph m of the first paragraph of Class 12 in that schedule, the deduction in respect of the property otherwise allowed to the taxpayer under this Title in computing the taxpayer’s income for a taxation year may not exceed the amount that could otherwise be deducted under this Title if the capital cost to the taxpayer of the property were reduced by the portion of any debt obligation of the taxpayer outstanding at the end of that year that is convertible into an interest in the property.
s. 130R55.6.1.1; O.C. 1249-2005, s. 6; O.C. 134-2009, s. 1; S.Q. 2023, c. 2, s. 101.