I-3 - Taxation Act

Section 101.7.1 Disposition versions

2019-06-19

101.7.1. Section 93.18 applies in respect of an amount repaid after 31 December 2016 as if that amount was repaid immediately before 1 January 2017, if

(a)  the amount is repaid by the taxpayer under a legal obligation to repay all or part of an amount the taxpayer received or was entitled to receive that was assistance from a government, municipality or other public authority (whether as a grant, subsidy, forgivable loan, deduction from tax, investment allowance or as any other form of assistance) in respect of, or for the acquisition of, property the cost of which was an incorporeal capital amount of the taxpayer in respect of a business, within the meaning of section 106, as it read before being repealed;

(b)  the incorporeal capital amount of the taxpayer in respect of the business was reduced in accordance with paragraph b of section 106.2, as it read before being repealed, because of the assistance referred to in paragraph a; and

(c)  paragraph o.1 of section 157 does not apply in respect of the amount repaid.

2019, c. 14, s. 77.