Budget Implementation Act, 2019, No. 1 (S.C. 2019, c. 29)

(14) Subject to subsections (14.11) to (14.13), for the purposes of this Part and Schedule II, if a property is acquired by a taxpayer

(14.13) Subsection (14) does not apply to an acquisition of property by a taxpayer from a person in respect of which the property is a zero-emission vehicle included in Class 54 or 55.

(20.1) For the purposes of subsection 1104(4), if, in the absence of this subsection, a taxpayer would be considered to be dealing at arm’s length with another person or partnership as a result of a transaction or series of transactions the principal purpose of which may reasonably be considered to have been to cause one or more properties of the taxpayer to qualify as accelerated investment incentive property, the taxpayer shall be considered not to be dealing at arm’s length with the other person or partnership in respect of the acquisition of those properties.

(26) For the purpose of the definition zero-emission vehicle in subsection 248(1) of the Act,

• (a) it is a prescribed condition that the motor vehicle has a battery capacity of at least 7 kWh; and

• (b) the federal purchase incentive announced on March 19, 2019 is a prescribed program.

(2j) A taxpayer may, in its return of income filed with the Minister on or before its filing-due date for the taxation year in which a property is acquired, elect not to include the property in Class 54 or 55 in Schedule II, as the case may be.

(4) For the purposes of this Part and Schedules II to VI, accelerated investment incentive property means property of a taxpayer (other than property included in Class 54 or 55) that

• (a) is acquired by the taxpayer after November 20, 2018 and becomes available for use before 2028; and

• (b) meets either of the following conditions:

  • (i) the property

    • (A) has not been used for any purpose before it was acquired by the taxpayer, and

    • (B) is not a property in respect of which an amount has been deducted under paragraph 20(1)(a) or subsection 20(16) of the Act by another person or partnership, or

  • (ii) the property was not

    • (A) acquired in circumstances where

      • (I) the taxpayer was deemed to have been allowed or deducted an amount under paragraph 20(1)(a) of the Act in respect of the property in computing income for previous taxation years, or

      • (II) the undepreciated capital cost of depreciable property of a prescribed class of the taxpayer was reduced by an amount determined by reference to the amount by which the capital cost of the property to the taxpayer exceeds its cost amount, or

    • (B) previously owned or acquired by the taxpayer or by a person or partnership with which the taxpayer did not deal at arm’s length at any time when the property was owned or acquired by the person or partnership.

(a) the property is

• (i) included in Class 43.1 because of its subparagraph (c)(i), or

• (ii) described in

  • (A) any of subparagraphs (d)(vii) to (ix), (xi), (xiii), (xiv), (xvi) and (xvii) of Class 43.1, or

  • (B) paragraph (a) of Class 43.2; and

(f) the Memorandum of Understanding between the Government of Canada and the Respective Governments of the Flemish, French and German-Speaking Communities of the Kingdom of Belgium concerning Audiovisual Coproduction.

(d) in respect of

• (i) any record of the minutes of meetings of the executive of a registered charity, registered Canadian amateur athletic association or registered journalism organization,

• (ii) any record of the minutes of meetings of the members of a registered charity, registered Canadian amateur athletic association or registered journalism organization, and

• (iii) all documents and by-laws governing a registered charity, registered Canadian amateur athletic association or registered journalism organization,

the period ending on the day that is two years after the date on which the registration of the registered charity, the registered Canadian amateur athletic association or the registered journalism organization under the Act is revoked;

(e) in respect of all records and books of account that are not described in paragraph (d) and that relate to a registered charity, registered Canadian amateur athletic association or registered journalism organization whose registration under the Act is revoked, and in respect of the vouchers and accounts necessary to verify the information in such records and books of account, the period ending on the day that is two years after the date on which the registration of the registered charity, the registered Canadian amateur athletic association or the registered journalism organization under the Act is revoked;