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

Section 130r40 Disposition versions

2021-03-10

130R40. In respect of property of Class 15 in Schedule B, the taxpayer may deduct the lesser of

(a)  an amount equal to,

i.  if the property is an accelerated investment incentive property acquired in the taxation year,

(1)  the amount obtained by multiplying 1.5 by an amount computed on the basis of a rate of cubic metre of timber cut in the year, if the property is acquired before 1 January 2024, and

(2)  the amount obtained by multiplying 1.25 by an amount computed on the basis of a rate of cubic metre of timber cut in the year, if the property is acquired after 31 December 2023, and

ii.  in any other case, an amount computed on the basis of a rate per cubic metre of timber cut in the taxation year; and

(b)  the undepreciated capital cost to the taxpayer of property of that class at the end of the taxation year, before any deduction under this division.

s. 130R25; O.C. 1981-80, s. 130R25; R.R.Q., 1981, c. I-3, r. 1, s. 130R25; O.C. 134-2009, s. 1; O.C. 164-2021, s. 8.

2012-09-01

130R40. In respect of property of Class 15 in Schedule B, the taxpayer may deduct the lesser of an amount computed on the basis of a rate per cubic metre of timber cut in the taxation year and the undepreciated capital cost to the taxpayer of property of that class at the end of the year, before any deduction under this division.

s. 130R25; O.C. 1981-80, s. 130R25; R.R.Q., 1981, c. I-3, r. 1, s. 130R25; O.C. 134-2009, s. 1.