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

Section 130r23.3 Disposition versions

2017-04-12

130R23.3. A taxpayer may deduct as additional allowance in respect of property that is used as part of an eligible liquefaction facility for which a separate class is prescribed by section 130R163.1.1, an amount not exceeding the lesser of

(a)  the income for the taxation year from the taxpayer’s eligible liquefaction activities in respect of the eligible liquefaction facility, computed taking into consideration any deduction under section 130R70.1 and before any deduction under this section, and

(b)  6% of the undepreciated capital cost to the taxpayer of property of that separate class as of the end of the year, computed before any deduction under this section and Division I for the year.

O.C. 321-2017, s. 11.