Income Tax Regulations — 1101
 respect of that property for that and subsequent taxation years. (5n) Notwithstanding subsection (5c), where at the end of any taxation year a property of a taxpayer is specified leasing property, a separate class is prescribed in respect of that property (including any additions or alterations to that property included in the same class in Schedule II) for that year and all subsequent taxation years. (5o) A separate class is prescribed for one or more properties of a class in Schedule II that are exempt properties, as defined in paragraph 1100(1.13)(a), of a taxpayer referred to in subsection 1100(16) in respect of which the taxpayer has, by letter attached to the return of income of the taxpayer filed with the Minister in accordance with section 150 of the Act for the taxation year in which the property or properties were acquired, elected that this subsection apply. Rapidly Depreciating Electronic Equipment (5p) Subject to subsection (5q), a separate class is prescribed for one or more properties of a taxpayer acquired in a taxation year and included in the year in Class 8 in Schedule II, where each of the properties has a capital cost to the taxpayer of at least $1,000 and is (a) computer software; (b) a photocopier; or (c) office equipment that is electronic communications equipment, such as a facsimile transmission device or telephone equipment. (5q) Each of subsections (5p) and (5s) apply to a property or properties of a taxpayer only if the taxpayer has (by letter attached to the taxpayer’s return of income filed with the Minister in accordance with section 150 of the Act for the taxation year in which the property or properties were acquired) elected that the subsection apply to the property or properties, as the case may be. Computer Tax Shelter Property (5r) For the purpose of this Part, where (a) more than one property of a taxpayer is described in the same class in Schedule II, (b) one of the properties is a computer tax shelter property, and (c) one of the properties is not a computer tax shelter property, for properties that are described in paragraph (b) and that would otherwise be included in the class, a separate class is prescribed. Manufacturing or Processing Property (5s) Subject to subsection (5q), a separate class is prescribed for one or more properties of a taxpayer (a) that were acquired in a taxation year and included in the year in Class 43 in Schedule II because of paragraph (a) of that Class; and (b) that had a capital cost to the taxpayer of at least $1,000. (5t) [Repealed, SOR/2006-117, s. 2] Equipment Related to Transmission Pipelines (5u) A separate class is prescribed for one or more properties of a taxpayer that is property included in Class 7 in Schedule II because of paragraph (j) or (k) of that Class if the taxpayer has (by letter attached to the taxpayer’s return of income filed with the Minister in accordance with section 150 of the Act for the taxation year in which the property or properties were acquired) elected that this subsection apply to the property or properties. Transmission Pipelines (5v) A separate class is prescribed for one or more properties of a taxpayer that is property included in Class 49 in Schedule II if the taxpayer has (by letter attached to the taxpayer’s return of income filed with the Minister in accordance with section 150 of the Act for the taxation year in which the property or properties were acquired) elected that this subsection apply to the property or properties. Reference (6) A reference in this Part to a class in Schedule II includes a reference to the corresponding separate classes prescribed by this section. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/78-137, s. 2; SOR/79-426, s. 2; SOR/79-670, s. 1; SOR/80-618, s. 1; SOR/81-244, s. 1; SOR/82-265, s. 2; SOR/84-454, s. 2; SOR/84-948, s. 6; SOR/86-156, s. 1; SOR/88-392, s. 2; SOR/89-27, s. 2; SOR/90-22, s. 2; SOR/90-257, s