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

Section 130r39.1 Disposition versions

2019-06-19

130R39.1. A taxpayer may, for a taxation year that ends before 1 January 2027, deduct as additional allowance, in respect of property included in Class 14.1 of Schedule B, an amount not exceeding the greater of

(a)  2% of the amount by which the undepreciated capital cost of property of the class at the beginning of 1 January 2017 exceeds the aggregate of all amounts each of which is

i.  an amount deducted under paragraph a of section 130 of the Act in respect of the class for a preceding taxation year, and

ii.  an amount equal to three times the amount of the capital cost of a property deemed under section 93.19 of the Act to be acquired by the taxpayer in the year or a preceding year; and

(b)  the amount determined by the formula

A − B.

In the formula in subparagraph b of the first paragraph,

(a)  A is the lesser of $500 and the undepreciated capital cost of property of the class to the taxpayer as of the end of the year (before making any deduction under paragraph a of section 130 of the Act in respect of the class for the year); and

(b)  B is the total of all amounts deductible for the year under paragraph a of section 130 of the Act in respect of the class because of subparagraph a of the first paragraph or paragraph n.1 of section 130R22.

S.Q. 2019, c. 14, s. 636.