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

Section 360r10 Disposition versions

2012-09-01

360R10. For the purposes of subparagraph ii of subparagraph c of the first paragraph of section 360R8, the capital cost allowance of the person for the person’s taxation year in respect of a property the person owns means the product obtained by multiplying, by the proportion that the number of days in the taxation year during which the person owned the property is of 365, an amount not exceeding 20% of

(a)  in the case of a property owned by the person on 31 December 1980, the lesser of

i.  the capital cost of the property, computed without including therein the cost of borrowing capital, including costs incurred before the start of operations of a business, and

ii.  the fair market value of the property on 31 December 1980;

(b)  in the case of a property previously owned by a person connected with the person and that the connected person acquired after 31 December 1980, the lesser of

i.  the capital cost of the property, computed without including therein the cost of borrowing capital, including costs incurred before the start of operations of a business, for the person who, being connected, was the first to acquire the property from a person who was not connected with the present owner of the property, and

ii.  the fair market value of the property at the time it was acquired by the person; and

(c)  in the case of another property, the capital cost of that property, computed without including therein the cost of borrowing capital, including costs incurred before the start of operations of a business.

s. 360R5.3; O.C. 2962-82, s. 36; O.C. 500-83, s. 36; O.C. 134-2009, s. 1.