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

Section 130r114 Disposition versions

2012-09-01

130R114. The amount to which section 130R113 refers is equal to the least of

(a)  the amount by which $50,000 exceeds

i.  the aggregate of all amounts each of which is an amount claimed by the taxpayer under section 130R113 for a preceding taxation year,

ii.  the aggregate of all amounts each of which is an amount claimed by the taxpayer under section 130R115 for the year or a preceding taxation year, and

iii.  the aggregate of all amounts each of which is an amount claimed under section 130R113 or 130R115 by a corporation for a taxation year in which it was associated with the taxpayer;

(b)  85% of the capital cost to the taxpayer of all property described in paragraph b of section 130R113; and

(c)  the undepreciated capital cost to the taxpayer, at the end of the year, of property included in Class 10 in Schedule B, computed without reference to Division XXIV and after all deductions claimed under this Title for the year except those under section 130R113.

s. 130R55.6.3; O.C. 1282-2003, s. 23; O.C. 134-2009, s. 1.