I-3 - Taxation Act

Section 99.2 Disposition versions

2021-12-10

99.2. The amount to which subparagraph ii of paragraph d.5 of section 99 refers in respect of a zero-emission passenger vehicle of a taxpayer is equal to the amount determined by the formula

A × B/C.

In the formula in the first paragraph,

(a)  A is the amount that would, in the absence of subparagraph ii of paragraph d.5 of section 99, be the proceeds of disposition of the vehicle;

(b)  B is

i.  where the vehicle is disposed of to a person or partnership with which the taxpayer deals at arm’s length, the capital cost to the taxpayer of the vehicle, and

ii.  in any other case, the amount determined under subparagraph c; and

(c)  C is the amount determined by the formula

D + (E + F) − (G + H).

In the formula in subparagraph c of the second paragraph,

(a)  D is the cost to the taxpayer of the vehicle;

(b)  E is the amount of repaid assistance referred to in the portion of section 101 before paragraph a and determined in respect of the vehicle at the time of the disposition;

(c)  F is the maximum amount determined under subparagraph ii.1 of subparagraph e of the first paragraph of section 93 in respect of the vehicle;

(d)  G is the amount of assistance referred to in paragraph b of section 101 and determined in respect of the vehicle at the time of the disposition; and

(e)  H is the maximum amount determined under subparagraph g of the second paragraph of section 93 in respect of the vehicle.

2021, c. 18, s. 24; 2021, c. 36, s. 55.

2021-06-04

99.2. The amount to which subparagraph ii of paragraph d.5 of section 99 refers in respect of a zero-emission passenger vehicle of a taxpayer is equal to the amount determined by the formula

A × B/C.

In the formula in the first paragraph,

(a)  A is the amount that would, in the absence of subparagraph ii of paragraph d.5 of section 99, be the proceeds of disposition of the vehicle;

(b)  B is

i.  where the vehicle is disposed of to a person or partnership with which the taxpayer deals at arm’s length, the capital cost to the taxpayer of the vehicle, and

ii.  in any other case, the cost to the taxpayer of the vehicle; and

(c)  C is the cost to the taxpayer of the vehicle.

2021, c. 18, s. 24.