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

Section 130r120.1 Disposition versions

2021-03-10

130R120.1. For the purposes of section 130R120, the following rules apply:

(a)  if the taxation year begins in the calendar year 2023 and ends in the calendar year 2024, the factor determined under subparagraph a of the second paragraph of section 130R120 is replaced by the factor determined by the following formula:

[(A × B) + (C × D)] / (B + D); and

(b)  if the taxation year begins in the calendar year 2025 and ends in the calendar year 2026, the factor determined under subparagraph a of the second paragraph of section 130R120 is replaced by the factor determined by the following formula:

[(E × F) + (G × H)] / (F + H).

In the formulas in the first paragraph,

(a)  A is the factor otherwise determined under subparagraph a of the second paragraph of section 130R120 for the calendar year 2023;

(b)  B is the amount that would be determined under subparagraph a of the third paragraph of section 130R120 if the only property considered to be available for use by the taxpayer in the taxation year were property considered to be available for use in the calendar year 2023;

(c)  C is the factor otherwise determined under subparagraph a of the second paragraph of section 130R120 for the calendar year 2024;

(d)  D is the amount that would be determined under subparagraph a of the third paragraph of section 130R120 if the only property considered to be available for use by the taxpayer in the taxation year were property considered to be available for use in the calendar year 2024;

(e)  E is the factor otherwise determined under subparagraph a of the second paragraph of section 130R120 for the calendar year 2025;

(f)  F is the amount that would be determined under subparagraph a of the third paragraph of section 130R120 if the only property considered to be available for use by the taxpayer in the taxation year were property considered to be available for use in the calendar year 2025;

(g)  G is the factor otherwise determined under subparagraph a of the second paragraph of section 130R120 for the calendar year 2026; and

(h)  H is the amount that would be determined under subparagraph a of the third paragraph of section 130R120 if the only property considered to be available for use by the taxpayer in the taxation year were property considered to be available for use in the calendar year 2026.

O.C. 164-2021, s. 19.