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

Section 360r67 Disposition versions

2012-09-01

360R67. The amount referred to in section 360R66 at the particular time referred to therein is equal to the aggregate

(a)  of the amounts deducted by the taxpayer under section 360R65 in computing the taxpayer’s income for the taxation years ending before that time;

(b)  of 66 2/3% of the amounts that become receivable by the taxpayer after 28 March 1979 and before that time but not after 11 December 1979 and in respect of which the consideration given by the taxpayer is a property, other than a share or a property that would have been for the taxpayer a Canadian resource property if the taxpayer had acquired it at the time of giving the consideration, or services the cost of which may reasonably be considered as representing primarily an expenditure related to an oil or gas well in respect of which an amount was included, under subparagraph a of the first paragraph of section 360R66, in computing the taxpayer’s exploration account or, where the taxpayer is a corporation referred to in section 360R73, in computing the exploration account of the person from whom the taxpayer acquired a property; and

(c)  where the taxpayer is a person from whom a property was acquired in accordance with section 360R73, of any amount required by paragraph b of that section to be deducted in computing the taxpayer’s exploration account before that time.

s. 360R30.1; O.C. 1983-80, s. 25; R.R.Q., 1981, c. I-3, r. 1, s. 360R30.1; O.C. 2962-82, s. 59; O.C. 500-83, s. 59; O.C. 421-88, s. 19; Erratum, 1988 G.O. 2, 2537; O.C. 35-96, s. 60; O.C. 1707-97, s. 98; O.C. 134-2009, s. 1.