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

Section 851.22.1r1 Disposition versions

2012-09-01

851.22.1R1. For the purposes of the definition of “specified debt obligation” in the first paragraph of section 851.22.1 of the Act, a property is a prescribed property throughout a taxation year if the property is a direct financing lease, or any other financing agreement, of a taxpayer that is reported as a loan in the taxpayer’s financial statements for the year, prepared in accordance with generally accepted accounting principles, provided that an amount is deductible in computing the taxpayer’s income for the year, in respect of the property that is the subject of the lease or agreement, under paragraph a of section 130 or the second paragraph of section 130.1 of the Act.

s. 851.22.1R1; O.C. 1470-2002, s. 62; O.C. 134-2009, s. 1.