I-3, r. 1 - Regulation respecting the Taxation Act

Section 130r115 Disposition versions

2012-09-01

130R115. A taxpayer may elect to deduct as additional allowance, for a taxation year, an amount that does not exceed the amount determined under section 130R116, where the taxpayer

(a)  is not a large corporation within the meaning of subsection 8 of section 225.1 of the Income Tax Act (R.S.C. 1985, c. 1 (5th Suppl.)), in the year, or a partnership any member of which is such a corporation in a taxation year that includes any time that is in the partnership’s fiscal period; and

(b)  acquired property included in Class 12 in Schedule B under subparagraph o of the first paragraph of that class in the year but after 31 December 1997 and before 1 November 1999, for the purpose of replacing property that was acquired before 1 January 1998 that has a material risk of malfunctioning because of the change of the calendar year to 2000 and that is described in subparagraph g of the first paragraph of Class 10 in Schedule B or in that subparagraph o.

s. 130R55.6.4; O.C. 1282-2003, s. 23; O.C. 134-2009, s. 1.