I-3 - Taxation Act

Section 98 Disposition versions

2006-03-01

98. Where, in calculating the amount of a deduction allowed under section 130.1 or regulations made under paragraph a of section 130 in respect of depreciable property of a prescribed class, in this section referred to as the “particular class”, there has been added to the capital cost of depreciable property of the particular class the capital cost of depreciable property, in this section referred to as “added property”, of another prescribed class, for the purposes of this division, sections 130.1, 142 and 149 and any regulations made under paragraph a of section 130, the added property is, if the Minister so directs with respect to any taxation year for which the Minister may make any assessment, reassessment or additional assessment, in accordance with section 1010, deemed to have been, at all times before the beginning of that year, property of the particular class and not of the other class.

Except to the extent that the added property or any part thereof has been disposed of by the taxpayer before the beginning of the year, the added property is deemed to have been transferred from the particular class to the other class at the beginning of that year.

1972, c. 23, s. 88; 1974, c. 18, s. 4; 1978, c. 26, s. 19; 1997, c. 14, s. 33.