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• Marginal note:Immediate expensing

  1100 (0.1) For the purposes of paragraph 20(1)(a) of the Act, a deduction is allowed in computing an eligible person or partnership’s income for each taxation year equal to the lesser of

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  • (c) if the eligible person or partnership is not a Canadian-controlled private corporation, the amount of income, if any, earned from the source of income that is a business or property (computed without regard to paragraph 20(1)(a) of the Act) in which the relevant designated immediate expensing property is used for the eligible person or partnership’s taxation year.

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• (1) For the purposes of paragraphs 8(1)(j) and (p) and 20(1)(a) of the Act, the following deductions are allowed in computing a taxpayer’s income for each taxation year:

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  • (c.1) for a taxation year that ends before 2027, such additional amount as the taxpayer may claim in respect of property of Class 14.1 of Schedule II not exceeding

    • (i) 2% of the particular amount by which the undepreciated capital cost of the class at the beginning of 2017 exceeds the total of all amounts each of which is

      • (A) the amount of a deduction taken under paragraph 20(1)(a) of the Act in respect of the class for a preceding taxation year, and

      • (B) equal to three times the amount of the capital cost of a property deemed by subsection 13(39) of the Act to be acquired by the taxpayer in the year or a preceding year, and

    • (ii) the amount determined by the formula

      A − B

      where

      A 

      is the lesser of

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      • (B) the undepreciated capital cost of the class to the taxpayer as of the end of the year (before making any deduction under paragraph 20(1)(a) of the Act in respect of the class for the year), and

      B 

      is the total of all amounts deductible for the year under paragraph 20(1)(a) of the Act in respect of the class because of subparagraph (i) or (a)(xii.1);

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  • (d) such additional amount as he may claim not exceeding in the case of property described in each of the classes in Schedule II, the lesser of

    • (i) one-half the amount that would have been allowed to him in respect of property of that class under subparagraph 6(n)(ii) of the Income War Tax Act if that act were applicable to the taxation year, and

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  • (sb) such additional amount as he may claim in respect of property included in Class 3, 6 or 8 in Schedule II

    • (i) that is

      • (A) a grain elevator situated in that part of Canada that is defined in section 2 of the Canada Grain Act as the “Eastern Division” the principal use of which

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  • (ta) for taxation years commencing after November 12, 1981, such amount as he may claim in respect of property of each of Classes 24, 27, 29 and 34 in Schedule II not exceeding the aggregate of

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    • (vi)  specified transaction means a transaction to which subsection 85(5), 87(1), 88(1), 97(4) or 98(3) or (5) of the Act applies, and

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  • (v) such amount as the taxpayer may claim in respect of property that is

    • [...]

    • (ii) included in a separate prescribed class because of subsection 13(14) of the Act, or

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    and, for the purposes of subparagraph (iv), a property shall be deemed to have been acquired by a taxpayer at the time at which the property became available for use by the taxpayer for the purposes of the Act;

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  • (w) subject to section 1100A, such additional amount as he may claim in respect of property described in Class 28 acquired for the purpose of gaining or producing income from a mine or in respect of property acquired for the purpose of gaining or producing income from a mine and for which a separate class is prescribed by subsection 1101 (4a), not exceeding the lesser of

    • (i) the taxpayer’s income for the taxation year from the mine, before making any deduction under this paragraph, paragraph (x), (y), (y.1), (y.2), (ya), (ya.1) or (ya.2), section 65, 66, 66.1, 66.2 or 66.7 of the Act or section 29 of the Income Tax Application Rules, and

  • (x) subject to section 1100A, such additional amount as he may claim in respect of property acquired for the purpose of gaining or producing income from more than one mine and for which a separate class is prescribed by subsection 1101(4b), not exceeding the lesser of

    • (i) the taxpayer’s income for the taxation year from the mines, before making any deduction under this paragraph, paragraph (ya), (ya.1) or (ya.2), section 65, 66, 66.1, 66.2 or 66.7 of the Act or section 29 of the Income Tax Application Rules, and

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  • (y) such additional amount as the taxpayer may claim in respect of property acquired for the purpose of gaining or producing income from a mine and for which a separate class is prescribed by subsection 1101(4c), not exceeding the lesser of

    • (i) the taxpayer’s income for the taxation year from the mine, before making any deduction under this paragraph, paragraph (x), (ya), (ya.1) or (ya.2), section 65, 66, 66.1, 66.2 or 66.7 of the Act or section 29 of the Income Tax Application Rules, and

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  • (y.1) such additional amount as the taxpayer may claim in respect of property acquired for the purpose of gaining or producing income from a mine and for which a separate class is prescribed by subsection 1101(4e), not exceeding the amount determined by the formula

    A × B

    where

    A 

    is the lesser of

    • (i) the taxpayer’s income for the taxation year from the mine, before making any deduction under this paragraph, paragraph (x), (y), (y.2), (ya), (ya.1) or (ya.2), section 65, 66, 66.1, 66.2 or 66.7 of the Act or section 29 of the Income Tax Application Rules, and

    B 

    is the percentage that is the total of

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    • (vi) 0%, if one or more days in the year are after 2014;

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  • (y.2) such additional amount as the taxpayer may claim in respect of property acquired for the purpose of gaining or producing income from a mine and for which a separate class is prescribed by subsection 1101(4g), not exceeding the amount determined by the formula

    A × B

    where

    A 

    is the lesser of

    • (i) the taxpayer’s income for the taxation year from the mine, before making any deduction under this paragraph, paragraph (x), (y), (ya), (ya.1) or (ya.2), section 65, 66, 66.1, 66.2 or 66.7 of the Act or section 29 of the Income Tax Application Rules, and

    B 

    is the percentage that is the total of

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    • (vi) 0%, if one or more days in the year are after 2020;

  • (ya) such additional amount as the taxpayer may claim in respect of property acquired for the purpose of gaining or producing income from more than one mine and for which a separate class is prescribed by subsection 1101(4d), not exceeding the lesser of

    • (i) the taxpayer’s income for the year from the mines, before making any deduction under this paragraph, section 65, 66, 66.1, 66.2 or 66.7 of the Act or section 29 of the Income Tax Application Rules, and

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  • (ya.1) such additional amount as the taxpayer may claim in respect of property acquired for the purpose of gaining or producing income from more than one mine and for which a separate class is prescribed by subsection 1101(4f), not exceeding the amount determined by the formula

    A × B

    where

    A 

    is the lesser of

    • (i) the taxpayer’s income for the taxation year from the mines, before making any deduction under this paragraph, paragraph (ya) or (ya.2), section 65, 66, 66.1, 66.2 or 66.7 of the Act or section 29 of the Income Tax Application Rules, and

    B 

    is the percentage that is the total of

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    • (vi) 0%, if one or more days in the year are after 2014;

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  • (ya.2) such additional amount as the taxpayer may claim in respect of a property acquired for the purpose of gaining or producing income from more than one mine and for which a separate class is prescribed by subsection 1101(4h), not exceeding the amount determined by the formula

    A × B

    where

    A 

    is the lesser of

    • (i) the taxpayer’s income for the taxation year from the mines, before making any deduction under this paragraph, paragraph (ya), section 65, 66, 66.1, 66.2 or 66.7 of the Act or section 29 of the Income Tax Application Rules, and

    B 

    is the percentage that is the total of

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    • (vi) 0%, if one or more days in the year are after 2020;

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  • (zg) where the taxpayer

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    • (ii) was not in the year a large corporation, as defined in subsection 225.1(8) of the Act, or a partnership any member of which was such a corporation in a taxation year that included any time that is in the partnership’s year, and

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  • (zh) where the taxpayer

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    • (ii) was not in the year a large corporation, as defined in subsection 225.1(8) of the Act, or a partnership any member of which was such a corporation in a taxation year that included any time that is in the partnership’s year, and

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• (1.1) Despite subsections (0.1), (1) and (3), the amount deductible by a taxpayer for a taxation year in respect of a property that is a specified leasing property at the end of the year is the lesser of

  • (a) the amount, if any, by which the aggregate of

    • (i) all amounts that would be considered to be repayments in the year or a preceding year on account of the principal amount of a loan made by the taxpayer if

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      • (B) interest had been charged on the principal amount of the loan outstanding from time to time at the rate, determined in accordance with section 4302, in effect at the earlier of

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        (or, where a particular lease provides that the amount paid or payable by the lessee of the property for the use of, or the right to use, the property varies according to prevailing interest rates in effect from time to time, and the taxpayer so elects, in respect of all of the property that is the subject of the particular lease, in the taxpayer’s return of income under Part I of the Act for the taxation year of the taxpayer in which the particular lease was entered into, the rate determined in accordance with section 4302 that is in effect at the beginning of the period for which the interest is being calculated), compounded semi-annually not in advance, and

    • (ii) the amount that would have been deductible under this section for the taxation year (in this subparagraph referred to as the “particular year”) that includes the time (in this subparagraph referred to as the “particular time”) at which the property last became a specified leasing property of the taxpayer, if

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    [...]

  • (b) the amount, if any, by which,

    • (i) the aggregate of all amounts that would have been deducted by the taxpayer under this Part in respect of the property under paragraph 20(1)(a) of the Act in computing the income of the taxpayer for the year and all preceding taxation years had this subsection and subsections (11) and (15) not applied, and had the taxpayer, in each such year, deducted under paragraph 20(1)(a) of the Act the maximum amount allowed under this Part, read without reference to this subsection and subsections (11) and (15), in respect of the property,

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• (1.11) In this section and subsection 1101(5n), specified leasing property of a taxpayer at any time means depreciable property (other than exempt property) that is

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• (1.13) For the purposes of this section,

  • (a)  exempt property means

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    • (vi) a building or part thereof included in Class 1, 3, 6, 20, 31 or 32 in Schedule II (including component parts such as electric wiring, plumbing, sprinkler systems, air-conditioning equipment, heating equipment, lighting fixtures, elevators and escalators) other than a building or part thereof leased primarily to a lessee that is

      • (A) a person who is exempt from tax by reason of section 149 of the Act,

      • (B) a person who uses the building in the course of carrying on a business the income from which is exempt from tax under Part I of the Act by reason of any provision of the Act, or

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  • (a.1) notwithstanding paragraph (a), “exempt property” does not include property that is the subject of a lease if that property had, at the time the lease was entered into, an aggregate fair market value in excess of $1,000,000 and the lessee of the property is

    • (i) a person who is exempt from tax by reason of section 149 of the Act,

    • (ii) a person who uses the property in the course of carrying on a business, the income from which is exempt from tax under Part I of the Act by reason of any provision of the Act,

• (1.14) For the purposes of subsection (1.11) and notwithstanding subsection (1.13), where a taxpayer referred to in subsection (16) so elects in the taxpayer’s return of income under Part I of the Act for a taxation year in respect of the year and all subsequent taxation years, all of the property of the taxpayer that is the subject of leases entered into in those years shall be deemed not to be exempt property for those years and the aggregate fair market value of all of the tangible property that is the subject of each such lease shall be deemed to have been, at the time the lease was entered into, in excess of $25,000.

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• (1.16) Where, at any time, a taxpayer acquires from a person with whom the taxpayer is not dealing at arm’s length, or by virtue of an amalgamation (within the meaning assigned by subsection 87(1) of the Act), property that was specified leasing property of the person from whom, the taxpayer acquired it, the taxpayer shall, for the purposes of paragraph (1.1)(a) and for the purpose of computing the income of the taxpayer in respect of the lease for any period after the particular time, be deemed to be the same person as, and a continuation of, that person.

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• (2) The amount that a taxpayer may deduct for a taxation year under subsection (1) in respect of property of a class in Schedule II is to be determined as if the undepreciated capital cost to the taxpayer at the end of the taxation year (before making any deduction under subsection (1) for the taxation year) of property of the class were adjusted by adding the positive or negative amount determined by the formula

  A(B) − 0.5(C)

  where

  B 

  is the amount determined, in respect of the class, by the formula

  D − E

  where

  D 

  is the total of all amounts, if any, each of which is an amount included in the description of A in the definition undepreciated capital cost in subsection 13(21) of the Act in respect of property of the class that became available for use by the taxpayer in the taxation year and that is accelerated investment incentive property or property included in any of Classes 54 to 56, and

  C 

  is the amount determined, in respect of the class, by the formula

  F − G

  where

  F 

  is the total of all amounts each of which

  • (a) is an amount added to the undepreciated capital cost to the taxpayer of property of the class

    • (i) because of element A in the definition undepreciated capital cost in subsection 13(21) of the Act in respect of property (other than accelerated investment incentive property) that was acquired, or became available for use, by the taxpayer in the taxation year, or

    • (ii) because of element C or D in the definition undepreciated capital cost in subsection 13(21) of the Act in respect of an amount that was repaid in the taxation year, and

  • (b) is not in respect of

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    • (iv) property that was deemed to have been acquired by the taxpayer in a preceding taxation year by reason of the application of paragraph 16.1(1)(b) of the Act in respect of a lease to which the property was subject immediately before the time at which the taxpayer last acquired the property, or

    • (v) property considered to have become available for use by the taxpayer in the taxation year by reason of paragraph 13(27)(b) or (28)(c) of the Act, and

  G 

  is the total of all amounts each of which is an amount deducted from the undepreciated capital cost to the taxpayer of property of the class

  • (a) because of element F or G in the definition undepreciated capital cost in subsection 13(21) of the Act in respect of property disposed of in the taxation year, or

  • (b) because of element J in the definition undepreciated capital cost in subsection 13(21) of the Act in respect of an amount the taxpayer received or was entitled to receive in the taxation year.

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• (2.2) Where a property of a class in Schedule II is acquired by a taxpayer

  • (a) in the course of a reorganization in respect of which, if a dividend were received by a corporation in the course of the reorganization, subsection 55(2) of the Act would not be applicable to the dividend by reason of the application of paragraph 55(3)(b) of the Act, or

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  • (e) from a person with whom the taxpayer was not dealing at arm’s length (otherwise than by virtue of a right referred to in paragraph 251(5)(b) of the Act) at the time the property was acquired,

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  • (j) where the property is a property of a class to which paragraph (1)(ta) applies,

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    • (iv) the property shall be deemed to have become available for use by the taxpayer at the earlier of

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      • (B) if applicable,

        • (I) the time it became available for use by the person from whom the taxpayer acquired the property, determined without reference to paragraphs 13(27)(c) and (28)(d) of the Act, or

        • (II) the time it became available for use by the first transferor in a series of transfers of the same property to which this subsection applies, determined without reference to paragraphs 13(27)(c) and (28)(d) of the Act; and

• (2.21) Where a taxpayer is deemed by a provision of the Act to have disposed of and acquired or reacquired a property,

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• (3) Where a taxation year is less than 12 months, the amount allowed as a deduction under this section, other than under any of paragraphs (1)(c), (e), (f), (g), (l), (m), (w), (x), (y), (ya), (zg) and (zh), shall not exceed that proportion of the maximum amount otherwise allowable that the number of days in the taxation year is of 365.

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• (11) Despite subsections (0.1) and (1), in no case shall the aggregate of deductions, each of which is a deduction in respect of property of a prescribed class owned by a taxpayer that includes rental property owned by him, otherwise allowed to the taxpayer by virtue of subsection (0.1) or (1) in computing his income for a taxation year, exceed the amount, if any, by which

  • (a) the aggregate of amounts each of which is

    • (i) his income for the year from renting or leasing a rental property owned by him, computed without regard to paragraph 20(1)(a) of the Act, or

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  • (b) the aggregate of amounts each of which is

    • (i) his loss for the year from renting or leasing a rental property owned by him, computed without regard to paragraph 20(1)(a) of the Act, or

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• (13) For the purposes of subsection (11), where a taxpayer or partnership has a leasehold interest in a property that is property of Class 1, 3 or 6 in Schedule II by virtue of subsection 1102(5) and the property is leased by the taxpayer or partnership to a person who owns the land, an interest therein or an option in respect thereof, on which the property is situated, this section shall be read without reference to subsection (12) with respect to that property.

• (14) In this section and section 1101, rental property of a taxpayer or a partnership means

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• (15) Despite subsections (0.1) and (1), in no case shall the aggregate of deductions, each of which is a deduction in respect of property of a prescribed class that is leasing property owned by a taxpayer, otherwise allowed to the taxpayer under subsection (0.1) or (1) in computing his income for a taxation year, exceed the amount, if any, by which

  • (a) the aggregate of amounts each of which is

    • (i) his income for the year from renting, leasing or earning royalties from, a leasing property or a property that would be a leasing property but for subsection (18), (19) or (20) where such property is owned by him, computed without regard to paragraph 20(1)(a) of the Act, or

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  • (b) the aggregate of amounts each of which is

    • (i) his loss for the year from renting, leasing or earning royalties from, a property referred to in subparagraph (a)(i), computed without regard to paragraph 20(1)(a) of the Act, or

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• (17) Subject to subsection (18), in this section and section 1101, leasing property of a taxpayer or a partnership means depreciable property other than

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• (19) Notwithstanding subsection (17), a property acquired by a taxpayer

  • (a) in the course of a reorganization in respect of which, if a dividend were received by a corporation in the course of the reorganization, subsection 55(2) of the Act would not be applicable to the dividend by reason of the application of paragraph 55(3)(b) of the Act, or

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  • (b) from a person with whom the taxpayer was not dealing at arm’s length (otherwise than by virtue of a right referred to in paragraph 251(5)(b) of the Act) at the time the property was acquired,

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• (20) Notwithstanding subsection (17), a property acquired by a taxpayer or partnership that is a replacement property (within the meaning assigned by subsection 13(4) of the Act), that would otherwise be a leasing property of the taxpayer or partnership, shall be deemed not to be a leasing property of the taxpayer or partnership if the property replaced, referred to in paragraph 13(4)(a) or (b) of the Act, was, by reason of subsection (18) or (19) or this subsection, not a leasing property of the taxpayer or partnership immediately before it was disposed of by the taxpayer or partnership.

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• (20.2) For the purpose of this Part, computer tax shelter property of a person or partnership is depreciable property of a prescribed class in Schedule II that is computer software or property described in Class 50 or 52 where

  • (a) the person’s or partnership’s interest in the property is a tax shelter investment (as defined by subsection 143.2(1) of the Act) determined without reference to subsection (20.1); or

  • (b) an interest in the person or partnership is a tax shelter investment (as defined by subsection 143.2(1) of the Act) determined without reference to subsection (20.1).

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• (24) Despite subsections (0.1) and (1), in no case shall the total of deductions, each of which is a deduction in respect of property of Class 34, 43.1, 43.2, 47 or 48 in Schedule II that is specified energy property owned by a taxpayer, otherwise allowed to the taxpayer under subsection (0.1) or (1) in computing the taxpayer’s income for a taxation year, exceed the amount, if any, by which

  • (a) the total of all amounts each of which is

    • (i) the total of

      • (A) the amount that would be the income of the taxpayer for the year from property described in Class 34, 43.1, 43.2, 47 or 48 in Schedule II (other than specified energy property), or from the business of selling the product of that property, if that income were calculated after deducting the maximum amount allowable in respect of the property for the year under paragraph 20(1)(a) of the Act, and

      • (B) the taxpayer’s income for the year from specified energy property or from the business of selling the product of that property, computed without regard to paragraph 20(1)(a) of the Act, or

    • (ii) the total of

      • (A) the taxpayer’s share of the amount that would be the income of a partnership for the year from property described in Class 34, 43.1, 43.2, 47 or 48 in Schedule II (other than specified energy property), or from the business of selling the product of that property, if that income were calculated after deducting the maximum amount allowable in respect of the property for the year under paragraph 20(1)(a) of the Act, and

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  • (b) the total of all amounts each of which is

    • (i) the taxpayer’s loss for the year from specified energy property or from the business of selling the product of that property, computed without regard to paragraph 20(1)(a) of the Act, or

• (25) Subject to subsections (27) to (29), in this section and section 1101, specified energy property of a taxpayer or partnership (in this subsection referred to as “the owner”) for a taxation year means property of Class 34 in Schedule II acquired by the owner after February 9, 1988 and property of Class 43.1, 43.2, 47 or 48 in Schedule II, other than a particular property

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• (28) A property acquired by a taxpayer

  • (a) in the course of a reorganization in respect of which, if a dividend were received by a corporation in the course of the reorganization, subsection 55(2) of the Act would not be applicable to the dividend by reason of the application of paragraph 55(3)(b) of the Act, or

  • (b) from a person with whom the taxpayer was not dealing at arm’s length (otherwise than by virtue of a right referred to in paragraph 251(5)(b) of the Act) at the time the property was acquired

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• (29) A property acquired by a taxpayer or partnership that is a replacement property (within the meaning assigned by subsection 13(4) of the Act), that would otherwise be specified energy property of the taxpayer or partnership, shall be deemed not to be specified energy property of the taxpayer or partnership if the property replaced, referred to in paragraph 13(4)(a) or (b) of the Act, was, by virtue of subsection (27), (28) or this subsection, not specified energy property of the taxpayer or partnership immediately before it was disposed of by the taxpayer or partnership.

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• 1206 (1) In this Part,

  Canadian exploration and development overhead expense

  Canadian exploration and development overhead expense  of a taxpayer means a Canadian exploration expense or a Canadian development expense of the taxpayer made or incurred after 1980 that is not a Canadian renewable and conservation expense (in this definition having the meaning assigned by subsection 66.1(6) of the Act) nor a taxpayer’s share of a Canadian renewable and conservation expense incurred by a partnership and

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  Canadian oil and gas exploration expense

  Canadian oil and gas exploration expense , of a taxpayer, means an outlay or expense that is made or incurred after 1980 and that would be a Canadian exploration expense, as defined in subsection 66.1(6) of the Act, of the taxpayer (other than an outlay or expense in respect of a qualified tertiary oil recovery project that is a Canadian exploration expense of the taxpayer because of subparagraph (c)(ii) or (d)(ii) of that definition) if

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  disposition of property

  disposition of property  has the meaning assigned by paragraph 13(21)(c) of the Act; (disposition de biens)

  original owner

  original owner  of a property means a person

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  • (b) who would, but for paragraph 1202(2)(b) (as it read in its application to taxation years ending before February 18, 1987) or paragraph 1202(3)(a), as the case may be, be entitled in computing the person’s income for a taxation year ending after the person disposed of the property to a deduction under section 1201 in respect of expenditures that were incurred by the person before the person disposed of the property; (propriétaire obligé)

  proceeds of disposition

  proceeds of disposition  of property has the meaning assigned by paragraph 13(21)(d) of the Act; (produit de la disposition)

  qualified tertiary oil recovery project

  qualified tertiary oil recovery project  in respect of an expense incurred in a taxation year means a project that uses a method (including a method that uses carbon dioxide miscible, hydrocarbon miscible, thermal or chemical processes but not including a secondary recovery method) that is designed to recover oil from an oil well in Canada that is incremental to oil that would be recovered therefrom by primary recovery and a secondary recovery method, if

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  • (b) the project is on a reserve within the meaning of the Indian Act, or

  specified property

  specified property  of a person means all or substantially all of the property used by the person in carrying on in Canada such of the businesses described in subparagraphs 66(15)(h)(i) to (vii) of the Act as were carried on by the person; (biens déterminés)

  stated percentage

  stated percentage  means

  • (a) where the taxpayer is an individual other than a trust, in respect of subparagraph 1203(2)(a)(i),

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    • (iii) 0 per cent in respect of an expenditure incurred after 1989,

  • (b) in respect of subparagraph 1203(2)(a)(i) (where paragraph (a) is not applicable) and paragraphs 1205(1)(a), (b), (c) and (f)

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    • (iii) 0 per cent in respect of an expenditure incurred or a cost incurred in borrowing capital after 1989,

  • (c) where the taxpayer is an individual other than a trust, in respect of subparagraph 1203(2)(a)(ii) and subsection 1203(4),

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    • (iii) 0 per cent in respect of any assistance that relates to expenditures incurred after 1989, and

  • (d) in respect of subparagraph 1203(2)(a)(ii) (if paragraph (c) is not applicable), subsection 1203(4) (if paragraph (c) is not applicable) and subparagraph 1205(1)(j)(iii),

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    • (iii) 0 per cent in respect of any assistance or benefit that relates to expenditures incurred after 1989; (pourcentage indiqué)

• (2) In this Part, joint exploration corporation , principal-business corporation , production from a Canadian resource property, reserve amount and shareholder corporation have the meanings assigned by subsection 66(15) of the Act.

• (3) For the purposes of sections 1201 to 1209 and 1212, where at the end of a fiscal period of a partnership, a taxpayer was a member thereof

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  • (d) any amount that has become receivable by the partnership and in respect of which the consideration given by the partnership therefor was property (other than property referred to in paragraph 59(2)(a), (c) or (d) of the Act or a share or interest therein or right thereto) or services, all or part of the original cost of which to the partnership may reasonably be regarded primarily as an exploration or development expense of the taxpayer, shall be deemed to be an amount receivable by the taxpayer to the extent of his share thereof, and the consideration so given by the partnership shall, to the extent of the taxpayer’s share thereof, be deemed to have been given by the taxpayer for the amount deemed to be receivable by him;

• (3.1) For the purposes of sections 1201 to 1203, 1205, 1217 and 1218, where a taxpayer was a member of a partnership at the end of a fiscal period of the partnership, the taxpayer shall be deemed to receive or to become entitled to receive any amount of assistance or benefit, whether such amount is by way of a grant, subsidy, rebate, forgivable loan, deduction from royalty or tax, rebate of royalty or tax, investment allowance or any other form of assistance or benefit, that the partnership at any time receives or becomes entitled to receive in respect of expenses incurred in that fiscal period of the partnership, to the extent of,

  [...]

• (4) Where an expense incurred after November 7, 1969 that was a Canadian exploration and development expense or that would have been such an expense if it had been incurred after 1971 (other than an amount included therein that is in respect of financing or the cost of any Canadian resource property acquired by a joint exploration corporation or any property acquired by a joint exploration corporation that would have been a Canadian resource property if it had been acquired after 1971), a Canadian exploration expense (other than an amount included therein that is in respect of financing) or a Canadian development expense (other than an amount included therein that is in respect of financing or an amount referred to in subparagraph 66.2(5)(a)(iii) of the Act) has been renounced in favour of a taxpayer and was deemed to be an expense of the taxpayer for the purposes of subsection 66(10), (10.1) or (10.2) of the Act or subsection 29(7) of the Income Tax Application Rules, the expense shall

  • (a) for the purposes of sections 1203 and 1205, be deemed to have been such an expense incurred by the taxpayer at the time the expense was incurred by the joint exploration corporation; and

  • (b) for the purposes of sections 1204 and 1210 and paragraphs 1217(2)(e) and 1218(2)(e), be deemed to have been such an expense incurred by the taxpayer at the time it was deemed to have been incurred by the taxpayer for the purposes of subsection 66(10), (10.1) or (10.2) of the Act or subsection 29(7) of the Income Tax Application Rules, as the case may be.

• (4.1) An expense that is a Canadian exploration and development overhead expense of the joint exploration corporation referred to in subsection (4), or would be such an expense if the references to “connected with the taxpayer” in paragraph (d) of the definition Canadian exploration and development overhead expense in subsection (1) were read as “connected with the shareholder corporation in favour of whom the expense was renounced for the purposes of subsection 66(10.1) or (10.2) of the Act”, that may reasonably be considered to be included in a Canadian exploration expense or Canadian development expense that is deemed by subsection (4) to be a Canadian exploration expense or Canadian development expense of the shareholder corporation, shall be deemed to be a Canadian exploration and development overhead expense of the shareholder corporation incurred by it at the time the expense was deemed by subsection (4) to have been incurred by it and shall be deemed at and after that time not to be a Canadian exploration and development overhead expense incurred by the joint exploration corporation.

• (4.2) For the purposes of paragraphs 66(12.6)(b), (12.601)(d) and (12.62)(b) of the Act, a prescribed Canadian exploration and development overhead expense of a corporation is

  • [...]

  • (b) an expense that would be a Canadian exploration and development overhead expense of the corporation if the references to “connected with the taxpayer” in paragraph (d) of the definition Canadian exploration and development overhead expense in subsection (1) were read as “connected with the person to whom the expense is renounced under subsection 66(12.6), (12.601) or (12.62) of the Act”; and

  • (c) an expense that would be a Canadian exploration and development overhead expense of the corporation if the references to “person who was connected with the taxpayer” in paragraph (d) of the definition Canadian exploration and development overhead expense in subsection (1) were read as “person to whom the expense is renounced under subsection 66(12.6), (12.601) or (12.62) of the Act”.

• [...]

• (7) For the purposes of paragraph (5)(a), equity percentage has the meaning assigned by paragraph 95(4)(b) of the Act.

• (8) For the purposes of the definition qualified tertiary oil recovery project in subsection (1), a specified royalty provision means:

  • [...]

  • (c) section 4.2 of the Petroleum Royalty Regulations of Alberta (Alta. Reg. 93/74);

  • (d) section 58A of the Petroleum and Natural Gas Regulations, 1969 of Saskatchewan (Saskatchewan Regulation 8/69);

  • (e) section 204 of The Freehold Oil And Gas Production Tax Regulations, 1983 of Saskatchewan (Saskatchewan Regulation 11/83);

  • (f) item 9 of section 2 of the Petroleum and Natural Gas Royalty Regulations of British Columbia (B.C. Reg. 549/78);

  • (g) the Freehold Mineral Taxation Act of Alberta;

  • (h) the Freehold Mineral Rights Tax Act of Alberta;

  • (i) Order in Council 427/84 pursuant to section 9(a) of the Mines and Minerals Act of Alberta;

  • (j) Order in Council 966/84 pursuant to section 9 of the Mines and Minerals Act of Alberta; or

  • (k) Order in Council 870/84 pursuant to section 9 of the Mines and Minerals Act of Alberta.

[...]

• 7305.01 (1) For the purposes of subsections 80.3(4) and (4.1) of the Act, the following regions are prescribed drought regions or prescribed regions of flood or excessive moisture:

  • [...]

  • (f) in respect of the 2019 calendar year, the Consolidated Census Subdivisions, based on the 2016 Statistics Canada Census, of

    • [...]

    • (v) in Saskatchewan, Aberdeen No. 373, Abernethy No. 186, Antelope Park No. 322, Antler No. 61, Argyle No. 1, Arlington No. 79, Arm River No. 252, Auvergne No. 76, Baildon No. 131, Battle River No. 438, Bayne No. 371, Beaver River No. 622, Bengough No. 40, Benson No. 35, Big Arm No. 251, Big Quill No. 308, Big Stick No. 141, Biggar No. 347, Blucher No. 343, Bone Creek No. 108, Bratt’s Lake No. 129, Britannia No. 502, Brock No. 64, Brokenshell No. 68, Browning No. 34, Buchanan No. 304, Buffalo No. 409, Calder No. 241, Caledonia No. 99, Cambria No. 6, Cana No. 214, Canaan No. 225, Carmichael No. 109, Caron No. 162, Chaplin No. 164, Chester No. 125, Chesterfield No. 261, Churchbridge No. 211, Clayton No. 333, Clinworth No. 230, Coalfields No. 4, Colonsay No. 342, Corman Park No. 344, Cote No. 271, Coteau No. 255, Coulee No. 136, Craik No. 222, Cupar No. 218, Cut Knife No. 439, Cymri No. 36, Deer Forks No. 232, Douglas No. 436, Dufferin No. 190, Dundurn No. 314, Eagle Creek No. 376, Edenwold No. 158, Elcapo No. 154, Eldon No. 471, Elfros No. 307, Elmsthorpe No. 100, Emerald No. 277, Enfield No. 194, Enniskillen No. 3, Enterprise No. 142, Estevan No. 5, Excel No. 71, Excelsior No. 166, Eye Hill No. 382, Eyebrow No. 193, Fertile Belt No. 183, Fertile Valley No. 285, Fillmore No. 96, Foam Lake No. 276, Fox Valley No. 171, Francis No. 127, Frenchman Butte No. 501, Frontier No. 19, Garry No. 245, Glen Bain No. 105, Glen McPherson No. 46, Glenside No. 377, Golden West No. 95, Good Lake No. 274, Grandview No. 349, Grant No. 372, Grass Lake No. 381, Grassy Creek No. 78, Gravelbourg No. 104, Grayson No. 184, Great Bend No. 405, Griffin No. 66, Gull Lake No. 139, Happy Valley No. 10, Happyland No. 231, Harris No. 316, Hart Butte No. 11, Hazel Dell No. 335, Hazelwood No. 94, Heart’s Hill No. 352, Hillsborough No. 132, Hillsdale No. 440, Humboldt No. 370, Huron No. 223, Indian Head No. 156, Insinger No. 275, Invermay No. 305, Ituna Bon Accord No. 246, Kellross No. 247, Key West No. 70, Keys No. 303, Kindersley No. 290, King George No. 256, Kingsley No. 124, Lac Pelletier No. 107, Lacadena No. 228, Laird No. 404, Lajord No. 128, Lake Alma No. 8, Lake Johnston No. 102, Lake Lenore No. 399, Lake of the Rivers No. 72, Lakeside No. 338, Lakeview No. 337, Langenburg No. 181, Last Mountain Valley No. 250, Laurier No. 38, Lawtonia No. 135, Leroy No. 339, Lipton No. 217, Livingston No. 331, Lomond No. 37, Lone Tree No. 18, Longlaketon No. 219, Loon Lake No. 561, Loreburn No. 254, Lost River No. 313, Lumsden No. 189, Manitou Lake No. 442, Mankota No. 45, Maple Bush No. 224, Maple Creek No. 111, Mariposa No. 350, Marquis No. 191, Marriott No. 317, Martin No. 122, Maryfield No. 91, Mayfield No. 406, McCraney No. 282, McKillop No. 220, McLeod No. 185, Meadow Lake No. 588, Milden No. 286, Milton No. 292, Miry Creek No. 229, Monet No. 257, Montmartre No. 126, Montrose No. 315, Moose Creek No. 33, Moose Jaw No. 161, Moose Mountain No. 63, Moosomin No. 121, Morris No. 312, Morse No. 165, Mount Hope No. 279, Mount Pleasant No. 2, Mountain View No. 318, Newcombe No. 260, North Battleford No. 437, North Qu’Appelle No. 187, Norton No. 69, Oakdale No. 320, Old Post No. 43, Orkney No. 244, Pense No. 160, Perdue No. 346, Piapot No. 110, Pinto Creek No. 75, Pittville No. 169, Pleasant Valley No. 288, Poplar Valley No. 12, Prairie Rose No. 309, Prairiedale No. 321, Preeceville No. 334, Progress No. 351, Reciprocity No. 32, Redburn No. 130, Reford No. 379, Reno No. 51, Riverside No. 168, Rocanville No. 151, Rodgers No. 133, Rosedale No. 283, Rosemount No. 378, Rosthern No. 403, Round Valley No. 410, Rudy No. 284, Saltcoats No. 213, Sarnia No. 221, Saskatchewan Landing No. 167, Saskatoon, Sasman No. 336, Scott No. 98, Senlac No. 411, Shamrock No. 134, Sherwood No. 159, Silverwood No. 123, Sliding Hills No. 273, Snipe Lake No. 259, Souris Valley No. 7, South Qu’Appelle No. 157, Spalding No. 368, Spy Hill No. 152, St. Andrews No. 287, St. Peter No. 369, St. Philips No. 301, Stanley No. 215, Stonehenge No. 73, Storthoaks No. 31, Surprise Valley No. 9, Sutton No. 103, Swift Current No. 137, Tecumseh No. 65, Terrell No. 101, The Gap No. 39, Three Lakes No. 400, Touchwood No. 248, Tramping Lake No. 380, Tullymet No. 216, Usborne No. 310, Val Marie No. 17, Vanscoy No. 345, Victory No. 226, Viscount No. 341, Wallace No. 243, Walpole No. 92, Waverley No. 44, Wawken No. 93, Webb No. 138, Wellington No. 97, Weyburn No. 67, Wheatlands No. 163, Whiska Creek No. 106, White Valley No. 49, Willner No. 253, Willow Bunch No. 42, Willowdale No. 153, Wilton No. 472, Winslow No. 319, Wise Creek No. 77, Wolseley No. 155, Wolverine No. 340, Wood Creek No. 281, Wood River No. 74 and Wreford No. 280, and

  • [...]

  • (h) in respect of the 2021 calendar year, the Consolidated Census Subdivisions, based on the 2016 Statistics Canada Census, of

    • [...]

    • (iv) in Saskatchewan, Aberdeen No. 373, Abernethy No. 186, Antelope Park No. 322, Antler No. 61, Arborfield No. 456, Argyle No. 1, Arlington No. 79, Arm River No. 252, Auvergne No. 76, Baildon No. 131, Barrier Valley No. 397, Battle River No. 438, Bayne No. 371, Beaver River No. 622, Bengough No. 40, Benson No. 35, Big Arm No. 251, Big Quill No. 308, Big River No. 555, Big Stick No. 141, Biggar No. 347, Birch Hills No. 460, Bjorkdale No. 426, Blaine Lake No. 434, Blucher No. 343, Bone Creek No. 108, Bratt’s Lake No. 129, Britannia No. 502, Brock No. 64, Brokenshell No. 68, Browning No. 34, Buchanan No. 304, Buckland No. 491, Buffalo No. 409, Calder No. 241, Caledonia No. 99, Cambria No. 6, Cana No. 214, Canaan No. 225, Canwood No. 494, Carmichael No. 109, Caron No. 162, Chaplin No. 164, Chester No. 125, Chesterfield No. 261, Churchbridge No. 211, Clayton No. 333, Clinworth No. 230, Coalfields No. 4, Colonsay No. 342, Connaught No. 457, Corman Park No. 344, Cote No. 271, Coteau No. 255, Coulee No. 136, Craik No. 222, Cupar No. 218, Cut Knife No. 439, Cymri No. 36, Deer Forks No. 232, Division No. 18 (Unorganized), Douglas No. 436, Duck Lake No. 463, Dufferin No. 190, Dundurn No. 314, Eagle Creek No. 376, Edenwold No. 158, Elcapo No. 154, Eldon No. 471, Elfros No. 307, Elmsthorpe No. 100, Emerald No. 277, Enfield No. 194, Enniskillen No. 3, Enterprise No. 142, Estevan No. 5, Excel No. 71, Excelsior No. 166, Eye Hill No. 382, Eyebrow No. 193, Fertile Belt No. 183, Fertile Valley No. 285, Fillmore No. 96, Fish Creek No. 402, Flett’s Springs No. 429, Foam Lake No. 276, Fox Valley No. 171, Francis No. 127, Frenchman Butte No. 501, Frontier No. 19, Garden River No. 490, Garry No. 245, Glen Bain No. 105, Glen McPherson No. 46, Glenside No. 377, Golden West No. 95, Good Lake No. 274, Grandview No. 349, Grant No. 372, Grass Lake No. 381, Grassy Creek No. 78, Gravelbourg No. 104, Grayson No. 184, Great Bend No. 405, Griffin No. 66, Gull Lake No. 139, Happy Valley No. 10, Happyland No. 231, Harris No. 316, Hart Butte No. 11, Hazel Dell No. 335, Hazelwood No. 94, Heart’s Hill No. 352, Hillsborough No. 132, Hillsdale No. 440, Hoodoo No. 401, Hudson Bay No. 394, Humboldt No. 370, Huron No. 223, Indian Head No. 156, Insinger No. 275, Invergordon No. 430, Invermay No. 305, Ituna Bon Accord No. 246, Kellross No. 247, Kelvington No. 366, Key West No. 70, Keys No. 303, Kindersley No. 290, King George No. 256, Kingsley No. 124, Kinistino No. 459, Lac Pelletier No. 107, Lacadena No. 228, Laird No. 404, Lajord No. 128, Lake Alma No. 8, Lake Johnston No. 102, Lake Lenore No. 399, Lake of the Rivers No. 72, Lakeside No. 338, Lakeview No. 337, Langenburg No. 181, Last Mountain Valley No. 250, Laurier No. 38, Lawtonia No. 135, Leask No. 464, Leroy No. 339, Lipton No. 217, Livingston No. 331, Lomond No. 37, Lone Tree No. 18, Longlaketon No. 219, Loon Lake No. 561, Loreburn No. 254, Lost River No. 313, Lumsden No. 189, Manitou Lake No. 442, Mankota No. 45, Maple Bush No. 224, Maple Creek No. 111, Mariposa No. 350, Marquis No. 191, Marriott No. 317, Martin No. 122, Maryfield No. 91, Mayfield No. 406, McCraney No. 282, McKillop No. 220, McLeod No. 185, Meadow Lake No. 588, Medstead No. 497, Meeting Lake No. 466, Meota No. 468, Mervin No. 499, Milden No. 286, Milton No. 292, Miry Creek No. 229, Monet No. 257, Montmartre No. 126, Montrose No. 315, Moose Creek No. 33, Moose Jaw No. 161, Moose Mountain No. 63, Moose Range No. 486, Moosomin No. 121, Morris No. 312, Morse No. 165, Mount Hope No. 279, Mount Pleasant No. 2, Mountain View No. 318, Newcombe No. 260, Nipawin No. 487, North Battleford No. 437, North Qu’Appelle No. 187, Norton No. 69, Oakdale No. 320, Old Post No. 43, Orkney No. 244, Paddockwood No. 520, Parkdale No. 498, Paynton No. 470, Pense No. 160, Perdue No. 346, Piapot No. 110, Pinto Creek No. 75, Pittville No. 169, Pleasant Valley No. 288, Pleasantdale No. 398, Ponass Lake No. 367, Poplar Valley No. 12, Porcupine No. 395, Prairie Rose No. 309, Prairiedale No. 321, Preeceville No. 334, Prince Albert No. 461, Progress No. 351, Reciprocity No. 32, Redberry No. 435, Redburn No. 130, Reford No. 379, Reno No. 51, Riverside No. 168, Rocanville No. 151, Rodgers No. 133, Rosedale No. 283, Rosemount No. 378, Rosthern No. 403, Round Hill No. 467, Round Valley No. 410, Rudy No. 284, Saltcoats No. 213, Sarnia No. 221, Saskatchewan Landing No. 167, Saskatoon, Sasman No. 336, Scott No. 98, Senlac No. 411, Shamrock No. 134, Shellbrook No. 493, Sherwood No. 159, Silverwood No. 123, Sliding Hills No. 273, Snipe Lake No. 259, Souris Valley No. 7, South Qu’Appelle No. 157, Spalding No. 368, Spiritwood No. 496, Spy Hill No. 152, St. Andrews No. 287, St. Louis No. 431, St. Peter No. 369, St. Philips No. 301, Stanley No. 215, Star City No. 428, Stonehenge No. 73, Storthoaks No. 31, Surprise Valley No. 9, Sutton No. 103, Swift Current No. 137, Tecumseh No. 65, Terrell No. 101, The Gap No. 39, Three Lakes No. 400, Tisdale No. 427, Torch River No. 488, Touchwood No. 248, Tramping Lake No. 380, Tullymet No. 216, Turtle River No. 469, Usborne No. 310, Val Marie No. 17, Vanscoy No. 345, Victory No. 226, Viscount No. 341, Wallace No. 243, Walpole No. 92, Waverley No. 44, Wawken No. 93, Webb No. 138, Wellington No. 97, Weyburn No. 67, Wheatlands No. 163, Whiska Creek No. 106, White Valley No. 49, Willner No. 253, Willow Bunch No. 42, Willow Creek No. 458, Willowdale No. 153, Wilton No. 472, Winslow No. 319, Wise Creek No. 77, Wolseley No. 155, Wolverine No. 340, Wood Creek No. 281, Wood River No. 74 and Wreford No. 280, and

• (2) For the purpose of this section, reserve has the same meaning as assigned by the Indian Act.

• (3) For the purpose of this section, if a portion of territory is surrounded by the territory of a census division, census subdivision, municipal entity or other geographic designation listed in subsection (1) in respect of a year, that portion of territory is deemed to be listed under that subsection in respect of that year.

[...]

• 414 (1) The following definitions apply in this section.

  general corporate income tax rate

  general corporate income tax rate , in a province for a taxation year, means

  • (a) for Quebec, 0%;

• (2) In determining the amount of a SIFT trust’s or SIFT partnership’s taxable SIFT distributions for a taxation year earned in a province

  • [...]

  • (b) subsection 400(1), section 401, subsections 402(1) and (2) and sections 403 to 413 do not apply.

• (3) Subject to subsection (4), in applying the definition provincial SIFT tax rate in subsection 248(1) of the Act in respect of a SIFT trust or SIFT partnership for a taxation year, the prescribed amount determined in respect of the SIFT trust or SIFT partnership for the taxation year is

  [...]

• (4) If a SIFT trust or a SIFT partnership has a permanent establishment in Quebec in a taxation year, paragraph (a) of the definition general corporate income tax rate in subsection (1) does not apply in determining the prescribed amount under subsection (3) in respect of the SIFT trust or the SIFT partnership for the taxation year for the purposes of applying the definition provincial SIFT tax rate in determining:

  • (a) in the case of the SIFT partnership, the amount of a dividend deemed by paragraph 96(1.11)(b) of the Act to have been received by it in the taxation year; and

[...]

• 8901.1 (1) For the purposes of paragraph (f) of the definition eligible entity in subsection 125.7(1) of the Act, the following entities are prescribed:

  • (a) a corporation that meets the following conditions:

    • (i) it is described in paragraph 149(1)(d.5) of the Act,

    • (ii) not less than 90% of the shares, or the capital, of the corporation are owned by one or more Aboriginal governments (as defined in subsection 241(10) of the Act) — or similar Indigenous governing bodies — described in paragraph 149(1)(c) of the Act, and

  • (b) a corporation that meets the following conditions:

    • (i) it is described in paragraph 149(1)(d.6) of the Act,

    • (ii) all of the shares (except directors’ qualifying shares), or the capital, of the corporation are owned by one or more of

      • (A) an Aboriginal government (as defined in subsection 241(10) of the Act) — or a similar Indigenous governing body — described in paragraph 149(1)(c) of the Act, or

  • (c) a partnership, each member of which is

    • [...]

    • (ii) an Aboriginal government (as defined in subsection 241(10) of the Act) — or a similar Indigenous governing body — described in paragraph 149(1)(c) of the Act;

  • [...]

  • (e) a person described in paragraph 149(1)(g) or (h) of the Act; and

• (2) For the purposes of subsection 125.7(1) of the Act, qualifying tourism or hospitality entity, for a qualifying period, means an eligible entity that meets the following conditions:

  • [...]

  • (b) the total of all amounts, each of which is the eligible entity’s qualifying revenue for the prior reference period for any of the first qualifying period to the thirteenth qualifying period (but including only one of the tenth qualifying period or the eleventh qualifying period), was earned primarily from carrying on one or more of the following activities:

    • [...]

    • (iii) operating a travel agency or as a tour operator, including:

      • (A) acting as an agent for tour operators, transportation companies and short-term lodging establishments in selling travel, tour and accommodation services, or

[...]