I-3 - Taxation Act

Section 94.1 Disposition versions

2023-03-15

94.1. Despite section 94, the excess determined at the end of a taxation year under that section is not to be included in computing a taxpayer’s income for the year where it is in respect of a passenger vehicle in respect of which paragraph d.3 or d.4 of section 99 or section 525.1 applied to the taxpayer, unless it was, at any time, designated immediate expensing property, within the meaning assigned by section 130R3 of the Regulation respecting the Taxation Act (chapter I-3, r. 1).

However, the excess referred to in the first paragraph is deemed, for the purposes of subparagraph ii of subparagraph e of the first paragraph of section 93, to be an amount included in computing the taxpayer’s income for the year under sections 93 to 104.

1990, c. 59, s. 53; 2001, c. 53, s. 260; 2023, c. 2, s. 4.

2006-03-01

94.1. Notwithstanding section 94, the excess determined at the end of a taxation year under that section shall not be included in computing the taxpayer’s income for the year where it is in respect of a passenger vehicle in respect of which paragraph d.3 or d.4 of section 99 or section 525.1 applied to the taxpayer.

However, the excess referred to in the first paragraph is deemed, for the purposes of subparagraph ii of subparagraph e of the first paragraph of section 93, to be an amount included in computing the taxpayer’s income for the year under sections 93 to 104.

1990, c. 59, s. 53; 2001, c. 53, s. 260.