Versions of s. 13(7)(i)(ii)

I-3.3 — Income Tax Act · 2 versions · View current text

Historical text comes from the Justice Laws point-in-time corpus and is unofficial — not the official version.

2021-06-29 to present available View Source

for the purposes of paragraph (a) of the description of F in the definition undepreciated capital cost in subsection (21), the proceeds of disposition of the vehicle are deemed to be the amount determined by the formula A × B/C where A is the amount that would, in the absence of this subparagraph, be the proceeds of disposition of the vehicle, B is if the vehicle is disposed of to a person or partnership with which the taxpayer deals at arm’s length, the capital cost to the taxpayer of the vehicle, and in any other case, the ~~cost~~amount todetermined ~~the~~for ~~taxpayer of the vehicle,~~C, and C is the amount determined by the formula D + (E + F) − (G + H) where D is the cost to the taxpayer of the vehicle, E is the amount determined under paragraph (7.1)(d) in respect of the vehicle at the time of disposition, F is the maximum amount determined for C in the definition undepreciated capital cost in subsection (21) in respect of the vehicle, G is the amount determined under paragraph (7.1)(f) in respect of the vehicle at the time of disposition, and H is the maximum amount determined for J in the definition undepreciated capital cost in subsection (21) in respect of the vehicle.

Full text

for the purposes of paragraph (a) of the description of F in the definition undepreciated capital cost in subsection (21), the proceeds of disposition of the vehicle are deemed to be the amount determined by the formula A × B/C where A is the amount that would, in the absence of this subparagraph, be the proceeds of disposition of the vehicle, B is if the vehicle is disposed of to a person or partnership with which the taxpayer deals at arm’s length, the capital cost to the taxpayer of the vehicle, and in any other case, the amount determined for C, and C is the amount determined by the formula D + (E + F) − (G + H) where D is the cost to the taxpayer of the vehicle, E is the amount determined under paragraph (7.1)(d) in respect of the vehicle at the time of disposition, F is the maximum amount determined for C in the definition undepreciated capital cost in subsection (21) in respect of the vehicle, G is the amount determined under paragraph (7.1)(f) in respect of the vehicle at the time of disposition, and H is the maximum amount determined for J in the definition undepreciated capital cost in subsection (21) in respect of the vehicle.
2019-06-21 to 2021-06-29 View Source

for the purposes of paragraph (a) of the description of F in the definition undepreciated capital cost in subsection (21), the proceeds of disposition of the vehicle are deemed to be the amount determined by the formula A × B/C where A is the amount that would, in the absence of this subparagraph, be the proceeds of disposition of the vehicle, B is if the vehicle is disposed of to a person or partnership with which the taxpayer deals at arm’s length, the capital cost to the taxpayer of the vehicle, and in any other case, the cost to the taxpayer of the vehicle, and C is the cost to the taxpayer of the vehicle.