Government of Canada / Gouvernement du Canada
Symbol of the Government of Canada

Search

Income Tax Regulations

Version of section 4600 from 2015-06-23 to 2019-11-19:

  •  (1) Property is a prescribed building for the purposes of the definitions qualified property and qualified resource property in subsection 127(9) of the Act if it is depreciable property of the taxpayer that is a building or grain elevator and it is erected on land owned or leased by the taxpayer,

    • (a) that is included in Class 1, 3, 6, 20, 24 or 27 or paragraph (c), (d) or (e) of Class 8 in Schedule II; or

    • (b) that is included or would, but for Class 28, 41, 41.1 or 41.2 in Schedule II, be included in paragraph (g) of Class 10 in Schedule II.

  • (2) Property is prescribed machinery and equipment for the purposes of the definitions qualified property and qualified resource property in subsection 127(9) of the Act if it is depreciable property of the taxpayer (other than property referred to in subsection (1)) that is

    • (a) a property included in paragraph (k) of Class 1 or paragraph (a) of Class 2 in Schedule II;

    • (b) an oil or water storage tank;

    • (c) a property included in Class 8 in Schedule II (other than railway rolling stock);

    • (d) a vessel, including the furniture, fittings and equipment attached thereto;

    • (e) a property included in paragraph (a) of Class 10 or Class 22 or 38 in Schedule II (other than a car or truck designed for use on highways or streets);

    • (f) notwithstanding paragraph (e), a logging truck acquired after March 31, 1977 to be used in the activity of logging and having a weight, including the weight of property the capital cost of which is included in the capital cost of the truck at the time of its acquisition (but for greater certainty not including the weight of fuel), in excess of 16,000 pounds;

    • (g) a property included in any of paragraphs (b) to (f), (h), (j), (k), (o), (r), (t) or (u) of Class 10 in Schedule II, or property included in paragraph (b) of Class 41 in Schedule II and that would otherwise be included in paragraph (j), (k), (r), (t) or (u) of Class 10 in Schedule II;

    • (h) a property included in paragraph (n) of Class 10, or Class 15, in Schedule II (other than a roadway);

    • (i) a property included in any of paragraphs (a) to (f) of Class 9 in Schedule II;

    • (j) a property included in Class 28, in paragraph (a), (a.1), (a.2) or (a.3) of Class 41 or in Class 41.1 or 41.2 in Schedule II that would, but for Class 28, 41, 41.1 or 41.2, as the case may be, be included in paragraph (k) or (r) of Class 10 of Schedule II;

    • (k) a property included in Class 21, 24, 27, 29, 34, 39, 40, 43, 45, 46, 50, 52 or 53 in Schedule II;

    • (l) a property included in paragraph (c) or (d) of Class 41 in Schedule II;

    • (m) property included in Class 43.1 in Schedule II because of paragraph (c) of that Class; or

    • (n) a property included in Class 43.2 in Schedule II because of paragraph (a) of that Class.

  • (3) Property is prescribed energy generation and conservation property for the purposes of the definition qualified property in subsection 127(9) of the Act if it is depreciable property of the taxpayer (other than property referred to in subsection (1) or (2)) that is a property included in any of subparagraph (a.1)(i) of Class 17 and Classes 43.1, 43.2 and 48 in Schedule II.

  • [NOTE: Application provisions are not included in the consolidated text
  • see relevant amending Acts and regulations.]
  • SOR/78-137, s. 5
  • SOR/80-69, s. 1
  • SOR/80-131, s. 2
  • SOR/80-618, s. 7(E)
  • SOR/81-974, s. 13
  • SOR/88-165, s. 19
  • SOR/90-22, s. 6
  • SOR/94-169, s. 3
  • SOR/94-686, s. 66(F)
  • SOR/98-97, s. 4
  • SOR/99-179, s. 10
  • SOR/2005-371, s. 5
  • SOR/2005-414, s. 4
  • SOR/2006-117, s. 6
  • SOR/2011-9, s. 5
  • 2012, c. 31, s. 66
  • 2013, c. 34, s. 395, c. 40, s. 106
  • 2015, c. 36, s. 22
Date modified: