• 8104. (1) In this section, “excluded property”, of a taxpayer, means a mark-to-market property of the taxpayer for its taxation year that includes October 31, 1994 if

  • (a) the taxpayer had a taxable capital gain or an allowable capital loss for the year from the disposition of the property to which section 142 of the Act applied; or

  • (b) in the case of a taxpayer that was non-resident in the year, the property was a capital property other than a taxable Canadian property.

• (2) For the purpose of subsection 142.5(6) of the Act, the prescribed amount for a taxpayer’s taxation year that includes October 31, 1994 is the amount, if any, by which

  • (a) the total of all amounts each of which is the taxable capital gain of the taxpayer for the year from the disposition, because of subsection 142.5(2) of the Act, of a property other than an excluded property

  exceeds the total of

  • (b) the total of all amounts each of which is the allowable capital loss of the taxpayer for the year from the disposition, because of subsection 142.5(2) of the Act, of a property other than an excluded property, and

  • (c) the amount, if any, by which

    • (i) the total of all amounts each of which is the allowable capital loss of the taxpayer for the year from the disposition of a mark-to-market property (other than an excluded property or a property disposed of because of subsection 142.5(2) of the Act)

    exceeds

    • (ii) the total of all amounts each of which is the taxable capital gain of the taxpayer for the year from the disposition of a mark-to-market property (other than an excluded property or a property disposed of because of subsection 142.5(2) of the Act).

• 8105. (1) In this section, “transition loss”, of a taxpayer, means the amount elected by the taxpayer under subsection 142.5(6) of the Act to be an allowable capital loss of the taxpayer for its taxation year that includes October 31, 1994.

• (2) There is prescribed for the purpose of subsection 142.5(7) of the Act in respect of a taxpayer for a taxation year that ends after October 30, 1994 the amounts that would be prescribed in respect of the taxpayer for the year by section 8103 if the references in subsections 8103(2) to (7) to

  • (a) “subsection 142.5(5)” were read as “subsection 142.5(7)”; and

  • (b) “transition deduction” were read as “transition loss (as defined in subsection 8105(1))”.

8200. For the purposes of subsection 16.1(1) of the Act, “prescribed property” means

• (a) exempt property, within the meaning assigned by paragraph 1100(1.13)(a), other than property leased on or before February 2, 1990 that is

  • (i) a truck or tractor that is designed for use on highways and has a “gross vehicle weight rating” (within the meaning assigned that expression by the Motor Vehicle Safety Regulations) of 11,778 kilograms or more,

  • (ii) a trailer that is designed for use on highways and is of a type designed to be hauled under normal operating conditions by a truck or tractor described in subparagraph (i), or

  • (iii) a railway car,

• (b) property that is the subject of a lease where the tangible property, other than exempt property (within the meaning assigned by paragraph 1100(1.13)(a)), that was the subject of the lease had, at the time the lease was entered into, an aggregate fair market value not in excess of $25,000, and

• (c) intangible property.