I-3 - Taxation Act

Section 106.2 Disposition versions

2019-06-19

106.2. (Repealed).

1996, c. 39, s. 35; 2001, c. 53, s. 260; 2005, c. 1, s. 42; 2019, c. 14, s. 78.

2006-03-01

106.2. For the purposes of this Part, where a taxpayer received or is entitled to receive assistance from a government, municipality or other public authority in respect of, or for the acquisition of, property the cost of which is an incorporeal capital amount of the taxpayer in respect of a business, whether as a grant, subsidy, forgivable loan, deduction from tax, investment allowance or as any other form of assistance, that incorporeal capital amount is at a particular time deemed to be the amount by which

(a)  the aggregate of

i.  that incorporeal capital amount, determined without reference to this section, and

ii.  such part of the assistance as the taxpayer repaid before the taxpayer ceased to carry on the business and before that particular time under a legal obligation to pay all or any part of the assistance; exceeds

(b)  the amount of the assistance the taxpayer received or is entitled to receive before the earlier of that particular time and the time the taxpayer ceases to carry on the business.

1996, c. 39, s. 35; 2001, c. 53, s. 260; 2005, c. 1, s. 42.