I-3 - Taxation Act

Section 156.6 Disposition versions

2006-03-01

156.6. The amount to which subparagraphs a and b of the first paragraph of section 156.5 refer in relation to a taxpayer for a taxation year, is equal to 25% of the aggregate of all amounts each of which is an amount deducted by the taxpayer under paragraph a of section 130 or the second paragraph of section 130.1, in computing the taxpayer’s income for the year, in respect of property which is prescribed depreciable property for the purpose, where the taxpayer is an individual, of subparagraph a of the second paragraph of section 156.2, and where the taxpayer is a corporation, of subparagraph a of the second paragraph of section 156.3.

The amount to which the first paragraph of section 156.5.1 refers, in relation to a partnership for a fiscal period, is equal to 25% of the aggregate of all amounts each of which is an amount deducted by the partnership under paragraph a of section 130 or the second paragraph of section 130.1 in computing the partnership’s income for the fiscal period, in respect of property that would be prescribed depreciable property for the purpose of subparagraph a of the second paragraph of section 156.3 if the partnership were a corporation.

1997, c. 85, s. 55; 1999, c. 83, s. 41; 2000, c. 39, s. 15; 2001, c. 51, s. 25; 2004, c. 21, s. 59.