Income Tax Act — I-3.3 (a)
cost amount to a taxpayer of any property at any time means, except as expressly otherwise provided in this Act, (a) where the property was depreciable property of the taxpayer of a prescribed class, the amount that would be that proportion of the undepreciated capital cost to the taxpayer of property of that class at that time that the capital cost to the taxpayer of the property is of the capital cost to the taxpayer of all property of that class that had not been disposed of by the taxpayer before that time if subsection 13(7) were read without reference to paragraph 13(7)(e) and if (i) paragraph 13(7)(b) were read as follows: “(b) where a taxpayer, having acquired property for some other purpose, has commenced at a later time to use it for the purpose of gaining or producing income, the taxpayer shall be deemed to have acquired it at that later time at a capital cost to the taxpayer equal to the fair market value of the property at that later time;”, and (ii) subparagraph 13(7)(d)(i) were read as follows: “(i) if the use regularly made by the taxpayer of the property for the purpose of gaining or producing income has increased, the taxpayer shall be deemed to have acquired at that time depreciable property of that class at a capital cost equal to the proportion of its fair market value at that time that the amount of the increase in the use regularly made by the taxpayer of the property for that purpose is of the whole of the use regularly made of the property, and” (b) where the property was capital property (other than depreciable property) of the taxpayer, its adjusted cost base to the taxpayer at that time, (c) where the property was property described in an inventory of the taxpayer, its value at that time as determined for the purpose of computing the taxpayer’s income, (c.1) where the taxpayer was a financial institution in its taxation year that includes that time and the property was a mark-to-market property for the year, the cost to the taxpayer of the property, (d) [Repealed, 2016, c. 12, s. 63] (d.1) where the property was a loan or lending asset (other than a net income stabilization account or a property in respect of which paragraph (b), (c), (c.1) or (d.2) applies), the amortized cost of the property to the taxpayer at that time, (d.2) where the taxpayer was a financial institution in its taxation year that includes that time and the property was a specified debt obligation (other than a mark-to-market property for the year), the tax basis of the property to the taxpayer at that time, (e) where the property was a right of the taxpayer to receive an amount, other than property that is (i) a debt the amount of which was deducted under paragraph 20(1)(p) in computing the taxpayer’s income for a taxation year that ended before that time, (ii) a net income stabilization account, (iii) a right in respect of which paragraph (b), (c), (c.1), (d.1) or (d.2) applies, or (iv) a right to receive production (as defined in subsection 18.1(1)) to which a matchable expenditure (as defined in subsection 18.1(1)) relates, the amount the taxpayer has a right to receive, (e.1) where the property was a policy loan (within the meaning assigned by subsection 138(12)) of an insurer, nil, (e.2) where the property is an interest of a beneficiary under a qualifying environmental trust, nil, and (f) in any other case, the cost to the taxpayer of the property as determined for the purpose of computing the taxpayer’s income, except to the extent that that cost has been deducted in computing the taxpayer’s income for any taxation year ending before that time; and, for the purposes of this definition, financial institution , mark-to-market property and specified debt obligation have the meanings assigned by subsection 142.2(1), and tax basis has the meaning assigned by subsection 142.4(1); ( coût indiqué )