I-3 - Taxation Act

Section 359 Disposition versions

2013-06-05

359. In this chapter,

(a)  “outlay” or “expense” made or incurred by a taxpayer before a particular time does not include any amount paid or payable for services to be rendered after that time or any amount paid or payable as rent for a period after that time, but includes an amount designated by the taxpayer at that time, under paragraph b of section 622 or 628, as that paragraph read before being struck out, as a cost in respect of property that is a Canadian resource property or a foreign resource property;

(b)  “mining business” means an activity described in subparagraph a or a.1 of the first paragraph of section 363 with respect to minerals or in any of subparagraphs b to e, f.1 and g of the first paragraph of that section, and a transaction concerning a property described in any of paragraphs a to g of section 370 that may reasonably be related to minerals;

(c)  “oil business” means an activity described in subparagraph a or a.1 of the first paragraph of section 363, except with respect to minerals, or in subparagraph f of the first paragraph of that section, and a transaction concerning a property described in any of paragraphs a to g of section 370 that may reasonably be related to petroleum or natural gas and that is not described in paragraph b;

(c.0.1)  “assistance” means any amount, other than a prescribed amount, received or receivable at any time from a person or government, municipality or other public authority whether such amount is by way of a grant, subsidy, rebate, forgivable loan, deduction from royalty or tax, rebate of royalty or tax, investment allowance or any other form of assistance or benefit;

(c.1)  “proceeds of disposition” has the meaning assigned by section 251;

(d)  (paragraph repealed).

1975, c. 22, s. 68; 1982, c. 5, s. 82; 1984, c. 15, s. 84; 1985, c. 25, s. 65; 1986, c. 19, s. 67; 1987, c. 67, s. 79; 1988, c. 18, s. 26; 1993, c. 16, s. 141; 1995, c. 49, s. 80; 1998, c. 16, s. 118; 1999, c. 83, s. 53; 2001, c. 53, s. 260; 2003, c. 2, s. 114; 2012, c. 8, s. 49; 2013, c. 10, s. 29.

2012-05-09

359. In this chapter,

(a)  “outlay” or “expense” made or incurred by a taxpayer before a particular time does not include any amount paid or payable for services to be rendered after that time or any amount paid or payable as rent for a period after that time, but includes an amount designated by him at that time, under paragraph b of section 622 or 628, as a cost in respect of property that is a Canadian resource property or a foreign resource property;

(b)  “mining business” means an activity described in subparagraph a or a.1 of the first paragraph of section 363 with respect to minerals or in any of subparagraphs b to e, f.1 and g of the first paragraph of that section, and a transaction concerning a property described in any of paragraphs a to g of section 370 that may reasonably be related to minerals;

(c)  “oil business” means an activity described in subparagraph a or a.1 of the first paragraph of section 363, except with respect to minerals, or in subparagraph f of the first paragraph of that section, and a transaction concerning a property described in any of paragraphs a to g of section 370 that may reasonably be related to petroleum or natural gas and that is not described in paragraph b;

(c.0.1)  “assistance” means any amount, other than a prescribed amount, received or receivable at any time from a person or government, municipality or other public authority whether such amount is by way of a grant, subsidy, rebate, forgivable loan, deduction from royalty or tax, rebate of royalty or tax, investment allowance or any other form of assistance or benefit;

(c.1)  “proceeds of disposition” has the meaning assigned by section 251;

(d)  (paragraph repealed).

1975, c. 22, s. 68; 1982, c. 5, s. 82; 1984, c. 15, s. 84; 1985, c. 25, s. 65; 1986, c. 19, s. 67; 1987, c. 67, s. 79; 1988, c. 18, s. 26; 1993, c. 16, s. 141; 1995, c. 49, s. 80; 1998, c. 16, s. 118; 1999, c. 83, s. 53; 2001, c. 53, s. 260; 2003, c. 2, s. 114; 2012, c. 8, s. 49.

2006-03-01

359. In this chapter,

(a)  “outlay” or “expense” made or incurred by a taxpayer before a particular time does not include any amount paid or payable for services to be rendered after that time or any amount paid or payable as rent for a period after that time, but includes an amount designated by him at that time, under paragraph b of section 622 or 628, as a cost in respect of property that is a Canadian resource property or a foreign resource property;

(b)  “mining business” means an activity described in subparagraph a or a.1 of the first paragraph of section 363 with respect to minerals or in any of subparagraphs b to e, f.1 or g of the first paragraph of that section, and a transaction concerning a property described in any of paragraphs a to f of section 370 that may reasonably be related to minerals;

(c)  “oil business” means an activity described in subparagraph a or a.1 of the first paragraph of section 363, except with respect to minerals, or in subparagraph f of the first paragraph of that section, and a transaction concerning a property described in any of paragraphs a to f of section 370, that may reasonably be related to petroleum or natural gas, and that is not contemplated in paragraph b;

(c.0.1)  “assistance” means any amount, other than a prescribed amount, received or receivable at any time from a person or government, municipality or other public authority whether such amount is by way of a grant, subsidy, rebate, forgivable loan, deduction from royalty or tax, rebate of royalty or tax, investment allowance or any other form of assistance or benefit;

(c.1)  “proceeds of disposition” has the meaning assigned by section 251;

(d)  (paragraph repealed).

1975, c. 22, s. 68; 1982, c. 5, s. 82; 1984, c. 15, s. 84; 1985, c. 25, s. 65; 1986, c. 19, s. 67; 1987, c. 67, s. 79; 1988, c. 18, s. 26; 1993, c. 16, s. 141; 1995, c. 49, s. 80; 1998, c. 16, s. 118; 1999, c. 83, s. 53; 2001, c. 53, s. 260; 2003, c. 2, s. 114.