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

Section 130r88 Disposition versions

2012-09-01

130R88. In this division and sections 130R156 to 130R203, a rental property of a taxpayer or of a partnership is a property that, during the year, is used by the taxpayer or partnership mainly for earning or producing a gross revenue that is a rent and that

(a)  is a building owned by the taxpayer or the partnership, whether jointly with another person or otherwise, or a leasehold interest in immovable property included in any of Classes 1, 3, 6 and 13 in Schedule B and owned by the taxpayer or partnership; and

(b)  is not a property leased by the taxpayer or the partnership to a lessee, in the ordinary course of the taxpayer’s or partnership’s business of selling goods or rendering services, under an agreement by which the lessee undertakes to use the property to carry on the business of selling or promoting the sale of the taxpayer’s or partnership’s goods or services.

s. 130R46; O.C. 1981-80, s. 130R46; R.R.Q., 1981, c. I-3, r. 1, s. 130R46; O.C. 1697-92, s. 18; O.C. 1707-97, s. 98; O.C. 134-2009, s. 1.