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Versions of s. 45(2)

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.

  1. 2021-06-29 to present available View Source
    For the purposes of this Subdivision and section 13, where subparagraph 45(1)(a)(i) or paragraph 13(7)(b) would otherwise apply to any property ofif a taxpayer for a taxation year and the taxpayer so elects in respect of any property of the propertytaxpayer in the taxpayer’s return of income for thea taxation year under this Part, the taxpayer shall be deemed not to have begun to use the property for the purpose of gaining or producing income except that, if in the taxpayer’s return of income under this Part for a subsequent taxation year the taxpayer rescinds the election in respect of the property, the taxpayer shall be deemed to have begun so to use the property on the first day of that subsequent year.
    Full text

    For the purposes of this Subdivision and section 13, if a taxpayer elects in respect of any property of the taxpayer in the taxpayer’s return of income for a taxation year under this Part,

  2. 2004-08-31 to 2021-06-29 View Source

    For the purposes of this Subdivision and section 13, where subparagraph 45(1)(a)(i) or paragraph 13(7)(b) would otherwise apply to any property of a taxpayer for a taxation year and the taxpayer so elects in respect of the property in the taxpayer’s return of income for the year under this Part, the taxpayer shall be deemed not to have begun to use the property for the purpose of gaining or producing income except that, if in the taxpayer’s return of income under this Part for a subsequent taxation year the taxpayer rescinds the election in respect of the property, the taxpayer shall be deemed to have begun so to use the property on the first day of that subsequent year.