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

Section 130r11.0.4 Disposition versions

2023-03-15

130R11.0.4. Despite sections 130R11.0.1 to 130R11.0.3, the following rules apply:

(a)  where an eligible person or partnership (in this paragraph referred to as the “first entity”) has more than one taxation year ending in the same calendar year and it is associated, within the meaning of Chapter IX of Title II of Book I of Part I of the Act and section 130R11.0.5, in 2 or more of those taxation years with another eligible person or partnership that has a taxation year ending in that calendar year, the immediate expensing limit of the first entity for each particular taxation year ending both in the calendar year in which it is so associated with the other eligible person or partnership and after the first taxation year ending in that calendar year is, subject to paragraph b, an amount equal to the lesser of

i.  its immediate expensing limit for the first taxation year ending in the calendar year, determined in accordance with section 130R11.0.2 or 130R11.0.3, and

ii.  its immediate expensing limit for the particular taxation year ending in the calendar year, determined in accordance with section 130R11.0.2 or 130R11.0.3; and

(b)  where an eligible person or partnership has a taxation year that is less than 51 weeks, its immediate expensing limit for the year is equal to its immediate expensing limit, determined without reference to this section, multiplied by the proportion that the number of days in the year is of 365.

S.Q. 2023, c. 2, s. 98.