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

Section 130r150.1 Disposition versions

2012-09-01

130R150.1. Despite section 130R148, where a taxpayer acquires from a person or partnership, in circumstances described in paragraph a or b of section 130R149, property that was of a separate prescribed class of the person or partnership under section 130R194.1, the property is deemed to be in the same prescribed class of the taxpayer and not to be in a separate prescribed class in relation to that class, if the person or partnership was entitled to deduct, for a taxation year or a fiscal period, as the case may be, prior to the taxation year or fiscal period of disposition of the property, an amount in computing the taxpayer’s income from a business under section 156.7.1 of the Act in respect of the property.

O.C. 390-2012, s. 24.