I-3 - Taxation Act

Section 134 Disposition versions

2006-03-01

134. No amount disbursed or expended by the taxpayer after 1971 for the use or maintenance of a yacht, a lodge, a camp or a golf course or facility may be deducted unless the taxpayer’s business provides any of the foregoing for hire or reward and such outlay or expense is made or incurred in the ordinary course of such business.

The same applies to such an amount when expended or disbursed as fees or dues, whether membership dues, initiation fees or otherwise, in any club the main purpose of which is to provide dining, recreational or sporting facilities for its members.

However, this section does not apply to such an amount that is a gift or award referred to in section 37.1.5.

1972, c. 23, s. 123; 1986, c. 19, s. 23; 2003, c. 9, s. 20.