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

Section 130r20 Disposition versions

2012-09-01

130R20. Subparagraph b of the second paragraph of section 130R19 does not apply where the taxpayer acquired the automobile in any of the circumstances set forth in paragraph a or b of section 130R123 if,

(a)  the automobile was a depreciable property of the person from whom the taxpayer acquired it and belonged to that person without interruption for at least 364 days before the end of the taxation year of the taxpayer during which the taxpayer acquired the automobile, until the day of its acquisition by the taxpayer; or

(b)  this section was applied in respect of the automobile for the purpose of determining the amount that the person from whom the taxpayer acquired the property was entitled to deduct under section 130R1.

s. 130R3.1; O.C. 2847-84, s. 1; O.C. 1697-92, s. 8; O.C. 134-2009, s. 1.