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

Section 130r73
Disposition versions

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130R73. For the purposes of the definition of “specified leasing property” in the first paragraph of section 130R71 and despite section 130R72, where a taxpayer referred to in section 130R92 so elects in the taxpayer’s fiscal return required be filed under Part I of the Act for a taxation year in respect of the year and subsequent taxation years, the property of the taxpayer that is the subject of leases entered into during those years is deemed not to be exempt property for those years and the fair market value of the corporeal property that is the subject of each such lease is deemed to exceed $25,000 at the time the lease is entered into.
s. 130R42.3; O.C. 366-94, s. 7; O.C. 134-2009, s. 1; O.C. 164-2021, s. 13.
130R73. For the purposes of the definition of “specified leasing property” in the first paragraph of section 130R71 and despite section 130R72, where a taxpayer referred to in section 130R92 so elects in the taxpayer’s fiscal return required be filed under Part I of the Act for a taxation year in respect of the year and subsequent taxation years, the property of the taxpayer that is the subject of leases entered into during those years is deemed not to be exempt property for those years and the fair market value of the tangible property that is the subject of each such lease is deemed to exceed $25,000 at the time the lease is entered into.
s. 130R42.3; O.C. 366-94, s. 7; O.C. 134-2009, s. 1.
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