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

Section 130r212 Disposition versions

2021-03-10

130R212. If the taxpayer has not been granted an allowance in respect of a timber limit or cutting right in computing income for a previous taxation year, the rate to which section 130R211 refers is equal to the amount determined by the following formula:

A × [B − (C + D)] / E.

In the formula in the first paragraph,

(a)  A is one of the following factors:

i.  1.5, if the property is an accelerated investment incentive property acquired before 1 January 2024,

ii.  1.25, if the property is an accelerated investment incentive property acquired after 31 December 2023, and

iii.  1, in any other case;

(b)  B is the capital cost of the limit or right to the taxpayer;

(c)  C is the estimated value of the property if the merchantable timber were removed;

(d)  D is the amount expended by the taxpayer after the commencement of the taxpayer’s 1949 taxation year for surveys, cruises or preparation of prints, maps or plans for the purpose of obtaining a timber limit or cutting right, if the amount is included in the capital cost to the taxpayer of the limit or cutting right; and

(e)  E is the quantity of timber, expressed in cubic metres of timber, in the timber limit or that the taxpayer has obtained a right to cut, as shown by a bona fide cruise.

s. 130R108; O.C. 1981-80, s. 130R108; R.R.Q., 1981, c. I-3, r. 1, s. 130R108; O.C. 134-2009, s. 1; O.C. 164-2021, s. 24.

2012-09-01

130R212. Where the taxpayer has not been granted an allowance in respect of a timber limit or cutting right in computing the taxpayer’s income for a previous taxation year, the rate referred to in section 130R211 is the amount equal to the quotient obtained by dividing the amount by which the capital cost of the limit or right exceeds the aggregate of the estimated value of the property if the merchantable timber were removed and the amount referred to in paragraph a of section 130R211 by the quantity of timber, expressed in cubic metres of timber, in the timber limit or that the taxpayer has obtained a right to cut, as shown by a bona fide cruise.

s. 130R108; O.C. 1981-80, s. 130R108; R.R.Q., 1981, c. I-3, r. 1, s. 130R108; O.C. 134-2009, s. 1.