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

Assented to 2019-06-21

PART 1Income Tax Act and Other Legislation (continued)

C.R.C., c. 945Income Tax Regulations (continued)

  •  (1) Paragraphs (a) and (b) of Class 43.2 in Schedule II to the Regulations are replaced by the following:

    • (a) otherwise than because of paragraph (d) of that Class, if the expression “6,000 BTU” in clause (c)(i)(B) of that Class were read as “4,750 BTU”; or

    • (b) because of paragraph (d) of that Class, if

      • (i) the expression “6,000 BTU” in clause (c)(i)(B) of that Class were read as “4,750 BTU”,

      • (ii) subclauses (d)(xvii)(C)(I) and (II) of that Class were read as follows:

        • (I) an electric vehicle charging station (other than a building) that supplies at least 90 kilowatts of continuous power, or

        • (II) used

          • 1 primarily in connection with one or more electric vehicle charging stations (other than buildings) each of which supplies more than 10 kilowatts of continuous power, and

          • 2 in connection with one or more electric vehicle charging stations (other than buildings) each of which supplies at least 90 kilowatts of continuous power, or

      and

      • (iii) clause (d)(xviii)(B) of that Class were read without reference to its subclause (II).

  • (2) Subsection (1) applies to property acquired after March 21, 2016 that has not been used or acquired for use before March 22, 2016.

  •  (1) Schedule II to the Regulations is amended by adding the following after Class 53:

    CLASS 54

    Property that is a zero-emission vehicle that is not included in Class 16 or 55.

    CLASS 55

    Property that is a zero-emission vehicle that would otherwise be included in Class 16.

  • (2) Subsection (1) is deemed to have come into force on March 19, 2019.

 Paragraph 1(a) of Schedule IV to the Regulations is replaced by the following:

  • (a) an amount equal to

    • (i) if the property is an accelerated investment incentive property acquired in the year,

      • (A) if the property is acquired before 2024, 1.5 times an amount computed on the basis of a rate per cord, board foot or cubic metre cut in the taxation year, and

      • (B) if the property is acquired after 2023, 1.25 times an amount computed on the basis of a rate per cord, board foot or cubic metre cut in the taxation year, and

    • (ii) in any other case, an amount computed on the basis of a rate per cord, board foot or cubic metre cut in the taxation year, and

 Paragraph 2(a) of Schedule IV to the Regulations is replaced by the following:

  • (a) the undepreciated capital cost to the taxpayer as of the end of the taxation year (before making any deduction under section 1100 for the taxation year and computed as if subparagraph 1(a)(i) did not apply) of the property

 Section 2 of Schedule V to the Regulations is replaced by the following:

2 If the taxpayer has not been granted an allowance in respect of the mine or right for a previous taxation year, the rate for a taxation year is determined by the formula

A(B – C)/D

where

A
is
  • (a) 1.5, if the property is an accelerated investment incentive property acquired before 2024,

  • (b) 1.25, if the property is an accelerated investment incentive property acquired after 2023, and

  • (c) 1, in any other case;

B
is the capital cost of the mine or right to the taxpayer;
C
is the residual value, if any, of the mine or right; and
D
is
  • (a) if the taxpayer has acquired a right to remove only a specified number of units, the specified number of units of material that the taxpayer acquired a right to remove, and

  • (b) in any other case, the number of units of commercially mineable material estimated as being in the mine when the mine or right was acquired.

  •  (1) Paragraph 3(a) of Schedule V to the Regulations is replaced by the following:

    • (a) if paragraph (b) does not apply,

      • (i) if section 2 applied in the previous year to determine the rate employed to determine the allowance for the year, the rate that would have been determined under section 2 if paragraph (c) of the description of A in that section applied, and

      • (ii) in any other case, the rate employed to determine the allowance for the most recent year for which an allowance was granted; and

  • (2) The portion of paragraph 3(b) of Schedule V to the Regulations before subparagraph (i) is replaced by the following:

    • (b) where it has been established that the number of units of material remaining to be mined in the previous taxation year was in fact different from the quantity that was employed in determining the rate for the previous year referred to in paragraph (a), or where it has been established that the capital cost of the mine or right is substantially different from the amount that was employed in determining the rate for that previous year, a rate determined by dividing the amount that would be the undepreciated capital cost to the taxpayer of the mine or right as of the commencement of the year if paragraph (c) of the description of A in section 2 had applied in respect of each previous taxation year minus the residual value, if any, by

 Section 2 of Schedule VI to the Regulations is replaced by the following:

2 If the taxpayer has not been granted an allowance in respect of the limit or right for a previous taxation year, the rate for a taxation year is an amount determined by the formula

A(B – (C +D))/E

where

A
is
  • (a) 1.5, if the property is an accelerated investment incentive property acquired before 2024,

  • (b) 1.25, if the property is an accelerated investment incentive property acquired after 2023, and

  • (c) 1, in any other case;

B
is the capital cost of the mine or right to the taxpayer;
C
is the residual value of the timber limit;
D
is the total of all amounts expended by the taxpayer after the commencement of the taxpayer’s 1949 taxation year that are included in the capital cost to the taxpayer of the timber limit or right, for surveys, cruises or preparation of prints, maps or plans for the purpose of obtaining a licence or right to cut timber; and
E
is the quantity of timber in the limit or the quantity of timber the taxpayer has obtained a right to cut, as the case may be, (expressed in cords, board feet or cubic metres) as shown by a cruise.
  •  (1) Paragraph 3(a) of Schedule VI to the Regulations is replaced by the following:

    • (a) if paragraph (b) does not apply,

      • (i) if section 2 applied in the previous year to determine the rate employed to determine the allowance for the year, the rate that would have been determined under section 2 if paragraph (c) of the description of A in that section applied, and

      • (ii) in any other case, the rate employed to determine the allowance for the most recent year for which an allowance was granted; and

  • (2) Subparagraph 3(b)(i) of Schedule VI to the Regulations is replaced by the following:

    • (i) the amount that would be the undepreciated capital cost to the taxpayer of the limit or right as of the commencement of the year if paragraph (c) of the description of A in section 2 had applied in respect of each previous taxation year, minus the residual value,

 
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