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

Section 360r29 Disposition versions

2012-09-01

360R29. For the purposes of this division,

(a)  a trust may not deduct any amount under paragraphs a and b of section 657 and section 657.1 of the Act in computing the income or loss, for a taxation year, from a source described in paragraph b or c of sections 360R21 and 360R25; and

(b)  a taxpayer’s income or loss from a source described in paragraph b of sections 360R21 and 360R25 does not include

i.  any income or loss derived from the processing, other than the processing of tar sands ore described in any of subparagraphs i to iii of paragraph b of section 360R21 and the processing described in subparagraph ii or iii of paragraph b of section 360R25, transmitting or transporting of petroleum, natural gas or related hydrocarbons, or sulphur, from a natural accumulation of petroleum or natural gas,

ii.  any income or loss arising because of the application of paragraph z, z.1 or z.4 of section 87 or any of sections 692.1 to 692.4 of the Act, or

iii.  any income or loss that may reasonably be attributed to a service rendered by the taxpayer other than processing described in subparagraph ii or iii of paragraph b of section 360R21 or in subparagraph ii or iii of paragraph b of section 360R25 and the activities that the taxpayer carries on as a coal mine operator.

s. 360R16; O.C. 1981-80, s. 360R16; O.C. 1535-81, s. 7; R.R.Q., 1981, c. I-3, r. 1, s. 360R16; O.C. 2962-82, s. 46; O.C. 500-83, s. 46; O.C. 2509-85, s. 17; O.C. 35-96, s. 86; O.C. 1466-98, s. 52; O.C. 1470-2002, s. 41; O.C. 134-2009, s. 1.