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

Section 360r80 Disposition versions

2012-09-01

360R80. The aggregate mentioned in section 360R79 may not include the expenditures described therein to the extent that the expenditures were

(a)  expenditures in respect of which a deduction of income tax or excess profits tax or a deduction in the computation of such taxes was allowed by section 8 of the Income War Tax Act (S.C. 1917, c. 28);

(b)  expenditures in respect of which an amount was deducted in computing a taxpayer’s income under section 16 of Chapter 63 of the Statutes of Canada of 1947, section 16 of Chapter 53 of the Statutes of Canada of 1947-48 or, if the expenditure was incurred prior to 1953, under section 53 of Chapter 25 of the Statutes of Canada of 1949, 2nd Session;

(c)  expenditures incurred after 1952 in respect of which a deduction was or is provided by section 53 of Chapter 25 of the Statutes of Canada of 1949, 2nd Session, section 83A of the Income Tax Act (R.S.C. 1952, c. 148) as it applied to the 1971 taxation year or section 29 of the Income Tax Application Rules (R.S.C. 1985, c. 2 (5th Suppl.));

(d)  expenditures that the taxpayer has deducted in computing the taxpayer’s income for the year in which such expenditures were incurred;

(e)  the cost to the taxpayer of property in respect of which the taxpayer is entitled to a deduction under paragraph a of section 130 of the Act; or

(f)  the cost to the taxpayer of a leasehold interest.

s. 360R44; O.C. 1981-80, s. 360R44; R.R.Q., 1981, c. I-3, r. 1, s. 360R44; O.C. 35-96, s. 86; O.C. 134-2009, s. 1.