I-3 - Taxation Act

Section 133.8 Disposition versions

2019-06-19

133.8. A taxpayer shall not deduct, in computing the taxpayer’s income from a business or property for a taxation year, an amount that corresponds to a reduction in the year in the value of a property if

(a)  the method used by the taxpayer to value the property at the end of the year for the purpose of computing the taxpayer’s profit from a business or property consists in valuing the property at the cost at which the taxpayer acquired it or its fair market value at the end of the year, whichever is lower;

(b)  the property is described in section 83.0.7; and

(c)  the property is not disposed of by the taxpayer in the year.

2019, c. 14, s. 81.