I-3 - Taxation Act

Section 223 Disposition versions

2015-10-21

223. (Repealed).

1972, c. 23, s. 211; 1974, c. 18, s. 12; 1987, c. 67, s. 46; 1989, c. 5, s. 50; 1995, c. 49, s. 236; 2015, c. 21, s. 136.

2006-03-01

223. A taxpayer referred to in subsection 1 of section 222 may also deduct, in computing his income from the business referred to therein for a taxation year, an amount not exceeding the lesser of

(a)  the aggregate of all amounts each of which is an expenditure of a capital nature made by the taxpayer, in the year or in a preceding taxation year ending after 31 December 1958, in respect of property acquired that would be depreciable property of the taxpayer if this section were not applicable in respect of the property, other than land or a leasehold interest in land, on scientific research and experimental development carried on in Canada, directly undertaken by or on behalf of the taxpayer, and related to a business of the taxpayer; and

(b)  the undepreciated capital cost to the taxpayer of the property so acquired as of the end of the taxation year, before making any deduction under this section in computing the income of the taxpayer for the year.

1972, c. 23, s. 211; 1974, c. 18, s. 12; 1987, c. 67, s. 46; 1989, c. 5, s. 50; 1995, c. 49, s. 236.