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

Section 130r135 Disposition versions

2012-09-01

130R135. Where a taxpayer has acquired after 25 May 1976, all or any part of a property included in a particular class in Schedule B and where the property or a part thereof would have been included in another class in that schedule if it had been acquired before 26 May 1976, the taxpayer may elect to transfer, in the year of acquisition:

(a)  the property, or the part thereof, from the particular class to the other class; or

(b)  the part of the property acquired before 26 May 1976 from the other class to the particular class.

An election under the first paragraph must be made by letter attached to the taxpayer’s fiscal return, on or before the taxpayer’s filing-due date for the taxation year in which the acquisition occurred or for the following taxation year.

s. 130R59; O.C. 1981-80, s. 130R59; R.R.Q., 1981, c. I-3, r. 1, s. 130R59; O.C. 1466-98, s. 24; O.C. 134-2009, s. 1.