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I-3 - Taxation Act

Section 409
Disposition versions

Full text
409. A taxpayer’s Canadian development expenses do not however include
(a)  any consideration given by the taxpayer for any share or any right in or to a share, except as provided by paragraph e of section 408;
(b)  any expense described in paragraph e of section 408 and incurred by another taxpayer to the extent that the expense is a Canadian development expense of that other taxpayer by virtue of that paragraph, a Canadian exploration expense of that other taxpayer by virtue of paragraph e of section 395 or a Canadian oil and gas property expense of that other taxpayer by virtue of paragraph c of section 418.2;
(c)  any amount included at any time in the capital cost to the taxpayer of any depreciable property of a prescribed class;
(c.1)  an expense that is the cost, or any part of the cost, to the taxpayer of any depreciable property of a prescribed class that was acquired after 31 December 1987; or
(d)  the taxpayer’s share of any consideration, expense, cost or expenditure referred to in any of paragraphs a to c given or incurred, as the case may be, by a partnership.
1975, c. 22, s. 90; 1982, c. 5, s. 97; 1998, c. 16, s. 153; 2004, c. 8, s. 76; 2020, c. 16, s. 189.
409. A taxpayer’s Canadian development expenses do not however include
(a)  any consideration given by the taxpayer for any share, or for any interest therein or right thereto, except as provided by paragraph e of section 408;
(b)  any expense described in paragraph e of section 408 and incurred by another taxpayer to the extent that the expense is a Canadian development expense of that other taxpayer by virtue of that paragraph, a Canadian exploration expense of that other taxpayer by virtue of paragraph e of section 395 or a Canadian oil and gas property expense of that other taxpayer by virtue of paragraph c of section 418.2;
(c)  any amount included at any time in the capital cost to the taxpayer of any depreciable property of a prescribed class;
(c.1)  an expense that is the cost, or any part of the cost, to the taxpayer of any depreciable property of a prescribed class that was acquired after 31 December 1987; or
(d)  the taxpayer’s share of any consideration, expense, cost or expenditure referred to in any of paragraphs a to c given or incurred, as the case may be, by a partnership.
1975, c. 22, s. 90; 1982, c. 5, s. 97; 1998, c. 16, s. 153; 2004, c. 8, s. 76.
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