GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Income Tax Regulations — (iii)
(iii) generates or distributes electrical energy, heat energy or a combination of electrical and heat energy, that directly and solely supports a qualified CCUS project, unless the equipment uses fossil fuels and emits carbon dioxide that is not subject to capture by a qualified CCUS project, and, for greater certainty, not including equipment that (A) supports the qualified CCUS project indirectly by way of an electrical utility grid, or (B) expands the capacity of existing equipment that supports the qualified CCUS project and that distributes electrical energy, heat energy or a combination of electrical and heat energy,
Income Tax Regulations — (A)
(A) supports the qualified CCUS project indirectly by way of an electrical utility grid, or
Income Tax Regulations — (B)
(B) expands the capacity of existing equipment that supports the qualified CCUS project and that distributes electrical energy, heat energy or a combination of electrical and heat energy,
Income Tax Regulations — (iv)
(iv) is equipment that solely supports a qualified CCUS project and transmits electrical energy from electrical generation equipment described in subparagraph (iii) to the qualified CCUS project, or
Income Tax Regulations — (v)
(v) delivers, collects, recovers, treats or recirculates water, or a combination of any of those activities, that solely supports a qualified CCUS project;
Income Tax Regulations — (b)
(b) equipment that is to be used solely for transportation of captured carbon, including equipment used for the transportation system safety and integrity;
Income Tax Regulations — (c)
(c) equipment that is to be used solely for storage of captured carbon in a geological formation, including equipment used for the storage system safety and integrity, but not including equipment used for enhanced oil recovery;
Income Tax Regulations — (d)
(d) property that is physically and functionally integrated with the equipment described in any of paragraphs (a) to (c) (for greater certainty, excluding construction equipment, furniture, office equipment and vehicles) and that is ancillary equipment used solely to support the functioning of equipment described in any of paragraphs (a) to (c) within a CCUS process as part of (i) an electrical system, (ii) a fuel supply system, (iii) a liquid delivery and distribution system, (iv) a cooling system, (v) a process material storage and handling and distribution system, (vi) a process venting system, (vii) a process waste management system, or (viii) a utility air or nitrogen distribution system;
Income Tax Regulations — (iii)
(iii) a liquid delivery and distribution system,
Income Tax Regulations — (v)
(v) a process material storage and handling and distribution system,
Income Tax Regulations — (vii)
(vii) a process waste management system, or
Income Tax Regulations — (viii)
(viii) a utility air or nitrogen distribution system;
Income Tax Regulations — (e)
(e) equipment used for system safety and integrity or as part of a control or monitoring system solely to support the equipment described in any of paragraphs (a) to (d); or
Income Tax Regulations — (f)
(f) a building or other structure all or substantially all of which is used, or to be used, for the installation or operation of equipment described in any of paragraphs (a) to (e); or
Income Tax Regulations — (g)
(g) property that is (i) incorporated into another property that would not otherwise be described in any of paragraphs (a) to (f) if the incorporation causes the other property to satisfy the description in any of paragraphs (a) to (f), or (ii) used solely to refurbish property described in any of paragraphs (a) to (f) that is part of a CCUS project of the taxpayer.
Income Tax Regulations — (i)
(i) incorporated into another property that would not otherwise be described in any of paragraphs (a) to (f) if the incorporation causes the other property to satisfy the description in any of paragraphs (a) to (f), or
Income Tax Regulations — (ii)
(ii) used solely to refurbish property described in any of paragraphs (a) to (f) that is part of a CCUS project of the taxpayer.
Income Tax Regulations — (a)
Property that is part of a CCUS project of a taxpayer, and that is (a) equipment to be used solely for using captured carbon in industrial production (including for enhanced oil recovery); (b) property that is physically and functionally integrated with the equipment described in paragraph (a) (for greater certainty, excluding construction equipment, furniture, office equipment and vehicles) and that is ancillary equipment used solely to support the functioning of equipment described in paragraph (a) within a CCUS process as part of (i) an electrical system, (ii) a fuel supply system, (iii) a liquid delivery and distribution system, (iv) a cooling system, (v) a process material storage and handling and distribution system, (vi) a process venting system, (vii) a process waste management system, or (viii) a utility air or nitrogen distribution system; (c) equipment used as part of a control, monitoring or safety system solely to support the equipment described in paragraph (a) or (b); (d) a building or other structure all or substantially all of which is used, or to be used, for the installation or operation of equipment described in any of paragraphs (a) to (c); or (e) property that is (i) incorporated into another property that would not otherwise be described in any of paragraphs (a) to (d) if the incorporation causes the other property to satisfy the description in any of paragraphs (a) to (d), or (ii) used solely to refurbish property described in any of paragraphs (a) to (d) that is part of a CCUS project of the taxpayer. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2024, c. 15, s. 95 2026, c. 3, s. 119
Income Tax Regulations — (a)
(a) equipment to be used solely for using captured carbon in industrial production (including for enhanced oil recovery);
Income Tax Regulations — (b)
(b) property that is physically and functionally integrated with the equipment described in paragraph (a) (for greater certainty, excluding construction equipment, furniture, office equipment and vehicles) and that is ancillary equipment used solely to support the functioning of equipment described in paragraph (a) within a CCUS process as part of (i) an electrical system, (ii) a fuel supply system, (iii) a liquid delivery and distribution system, (iv) a cooling system, (v) a process material storage and handling and distribution system, (vi) a process venting system, (vii) a process waste management system, or (viii) a utility air or nitrogen distribution system;
Income Tax Regulations — (c)
(c) equipment used as part of a control, monitoring or safety system solely to support the equipment described in paragraph (a) or (b);
Income Tax Regulations — (d)
(d) a building or other structure all or substantially all of which is used, or to be used, for the installation or operation of equipment described in any of paragraphs (a) to (c); or
Income Tax Regulations — (e)
(e) property that is (i) incorporated into another property that would not otherwise be described in any of paragraphs (a) to (d) if the incorporation causes the other property to satisfy the description in any of paragraphs (a) to (d), or (ii) used solely to refurbish property described in any of paragraphs (a) to (d) that is part of a CCUS project of the taxpayer.
Income Tax Regulations — (i)
(i) incorporated into another property that would not otherwise be described in any of paragraphs (a) to (d) if the incorporation causes the other property to satisfy the description in any of paragraphs (a) to (d), or
Income Tax Regulations — (ii)
(ii) used solely to refurbish property described in any of paragraphs (a) to (d) that is part of a CCUS project of the taxpayer.
Income Tax Regulations — (a)
Intangible property (including property deemed to have been acquired under subsection 13(7.6) of the Act) that is not included in any other class and that is (a) acquired for the purpose of determining the existence, location, extent or quality of a geological formation to permanently store captured carbon (other than for enhanced oil recovery) in Canada, including property acquired as a result of undertaking environmental studies or community consultations (including studies or consultations that are undertaken to obtain a right, licence or privilege for the purpose of determining the existence, location, extent or quality of a geological formation to permanently store captured carbon (other than for enhanced oil recovery)); and (b) not acquired for the purpose of drilling or completing an oil or gas well or in building a temporary access road to, or preparing a site in respect of, any such well. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2024, c. 15, s. 95
Income Tax Regulations — (a)
(a) acquired for the purpose of determining the existence, location, extent or quality of a geological formation to permanently store captured carbon (other than for enhanced oil recovery) in Canada, including property acquired as a result of undertaking environmental studies or community consultations (including studies or consultations that are undertaken to obtain a right, licence or privilege for the purpose of determining the existence, location, extent or quality of a geological formation to permanently store captured carbon (other than for enhanced oil recovery)); and
Income Tax Regulations — (b)
(b) not acquired for the purpose of drilling or completing an oil or gas well or in building a temporary access road to, or preparing a site in respect of, any such well.
Income Tax Regulations — (a)
Intangible property (including property deemed to have been acquired under subsection 13(7.6) of the Act) not included in any other class that is (a) acquired for the purposes of (i) drilling or converting a well in Canada for the permanent storage of captured carbon (other than for enhanced oil recovery), (ii) drilling or completing a well for the permanent storage of captured carbon (other than for enhanced oil recovery) in Canada, building a temporary access road to the well or preparing a site in respect of the well, or (iii) drilling or converting a well in Canada for the purposes of monitoring pressure changes or other phenomena in a geological formation in which captured carbon is permanently stored (other than for enhanced oil recovery); or (b) a right, licence or privilege (i) for the purposes of determining the existence, location, extent or quality of a geological formation to permanently store captured carbon (other than for enhanced oil recovery), or (ii) to permanently store captured carbon in dedicated geological storage. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2024, c. 15, s. 95
Income Tax Regulations — (a)
(a) acquired for the purposes of (i) drilling or converting a well in Canada for the permanent storage of captured carbon (other than for enhanced oil recovery), (ii) drilling or completing a well for the permanent storage of captured carbon (other than for enhanced oil recovery) in Canada, building a temporary access road to the well or preparing a site in respect of the well, or (iii) drilling or converting a well in Canada for the purposes of monitoring pressure changes or other phenomena in a geological formation in which captured carbon is permanently stored (other than for enhanced oil recovery); or
Income Tax Regulations — (i)
(i) drilling or converting a well in Canada for the permanent storage of captured carbon (other than for enhanced oil recovery),
Income Tax Regulations — (ii)
(ii) drilling or completing a well for the permanent storage of captured carbon (other than for enhanced oil recovery) in Canada, building a temporary access road to the well or preparing a site in respect of the well, or
Income Tax Regulations — (iii)
(iii) drilling or converting a well in Canada for the purposes of monitoring pressure changes or other phenomena in a geological formation in which captured carbon is permanently stored (other than for enhanced oil recovery); or
Income Tax Regulations — (b)
(b) a right, licence or privilege (i) for the purposes of determining the existence, location, extent or quality of a geological formation to permanently store captured carbon (other than for enhanced oil recovery), or (ii) to permanently store captured carbon in dedicated geological storage.
Income Tax Regulations — (i)
(i) for the purposes of determining the existence, location, extent or quality of a geological formation to permanently store captured carbon (other than for enhanced oil recovery), or
Income Tax Regulations — (ii)
(ii) to permanently store captured carbon in dedicated geological storage.
Income Tax Regulations — 1
1 For the purposes of paragraph 1100(1)(b), the amount that may be deducted in computing the income of a taxpayer for a taxation year in respect of the capital cost of property of Class 13 in Schedule II is the lesser of (a) the aggregate of each amount determined in accordance with section 2 of this Schedule that is a prorated portion of the part of the capital cost to him, incurred in a particular taxation year, of a particular leasehold interest; and (b) the undepreciated capital cost to the taxpayer as of the end of the taxation year (before making any deduction under section 1100) of property of the class.
Income Tax Regulations — 2
2 Subject to section 3 of this Schedule, the prorated portion for the year of the part of the capital cost, incurred in a particular taxation year, of a particular leasehold interest is the lesser of (a) 1/5 of that part of the capital cost; and (b) the amount determined by dividing that part of the capital cost by the number of 12-month periods (not exceeding 40 such periods) falling within the period commencing with the beginning of the particular taxation year in which the capital cost was incurred and ending with the day the lease is to terminate.
Income Tax Regulations — 3
3 For the purpose of determining, under section 2 of this Schedule, the prorated portion for the year of the part of the capital cost, incurred in a particular taxation year, of a particular leasehold interest, the following rules apply: (a) where an item of the capital cost of a leasehold interest was incurred before the taxation year in which the interest was acquired, it shall be deemed to have been incurred in the taxation year in which the interest was acquired; (b) where, under a lease, a tenant has a right to renew the lease for an additional term, or for more than one additional term, after the term that includes the end of the particular taxation year in which the capital cost was incurred, the lease shall be deemed to terminate on the day on which the term next succeeding the term in which the capital cost was incurred is to terminate; (c) the prorated portion for the year of the part of the capital cost, incurred in a particular taxation year, of a particular leasehold interest shall not exceed the amount, if any, remaining after deducting from that part of the capital cost the aggregate of the amounts claimed and deductible in previous years in respect thereof; (d) where, at the end of a taxation year, the aggregate of (i) the amounts claimed and deductible in previous taxation years in respect of a particular leasehold interest, and (ii) the proceeds of disposition, if any, of part or all of that interest equals or exceeds the capital cost as of that time of the interest, the prorated portion of any part of that capital cost shall, for all subsequent years, be deemed to be nil; and (e) where, at the end of a taxation year, the undepreciated capital cost to the taxpayer of property of Class 13 in Schedule II is nil, the prorated portion of any part of the capital cost as of that time shall, for all subsequent years, be deemed to be nil.
Income Tax Regulations — 4
4 Where a taxpayer has acquired a property that would, if the property had been acquired by a person with whom the taxpayer was not dealing at arm’s length at the time the property was acquired, be a leasehold interest of that person, a reference in this Schedule to a leasehold interest shall, in respect of the taxpayer, include a reference to that property, and the terms and conditions of the leasehold interest of that property in respect of the taxpayer shall be deemed to be the same as those that would have applied in respect of that person had that person acquired the property.
Income Tax Regulations — 1
1 For the purposes of paragraph 1100(1)(f), the amount that may be deducted in computing the income of a taxpayer for a taxation year in respect of property described in Class 15 in Schedule II is the lesser of (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, (i.1) if the property is a reaccelerated investment incentive property acquired in the year, (A) if the property is acquired before 2030, 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 2029, 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 (b) 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) of property of that class.
Income Tax Regulations — 2
2 Where all the property of the class is used in connection with one timber limit or section thereof, the rate per cord, board foot or cubic metre is the amount determined by dividing (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 by (b) the number of cords, board feet or cubic metres of timber in the limit or section thereof as of the commencement of the taxation year, obtained by deducting the quantity cut up to that time from the amount shown by the latest cruise.
Income Tax Regulations — 3
3 Where a part of the property of the class is used in connection with one timber limit or a section thereof and a part is used in connection with another limit or section thereof, a separate rate shall be computed for each part of the property, in the manner provided in section 2 of this Schedule, as though each part of the property were the taxpayer’s only property of that class.
Income Tax Regulations — 1
1 For the purposes of paragraph 1100(1)(g), the amount that may be deducted in computing the income of a taxpayer for a taxation year in respect of a property described in that paragraph that is an industrial mineral mine or a right to remove industrial minerals from an industrial mineral mine is the lesser of (a) an amount computed on the basis of a rate (computed under section 2 or 3 of this Schedule, as the case may be) per unit of mineral mined in the taxation year; and (b) the undepreciated capital cost to the taxpayer as of the end of the taxation year (before making any deduction under section 1100) of the mine or right.
Income Tax Regulations — 2
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 or a reaccelerated investment incentive property acquired before 2030, (b) 1.25, if the property is an accelerated investment incentive property acquired after 2023 or a reaccelerated investment incentive property acquired after 2029, 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.
Income Tax Regulations — 3
3 Where the taxpayer has been granted an allowance in respect of the mine or right in a previous taxation year, the rate for the taxation year is (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 (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 (i) in any case where the taxpayer has acquired a right to remove only a specified number of units, the number of units of commercially mineable material that, at the commencement of the year, he had a right to remove, and (ii) in any other case, the number of units of commercially mineable material estimated as remaining in the mine at the commencement of the year.
Income Tax Regulations — 4
4 In lieu of the aggregate of deductions otherwise allowable under this Schedule, a taxpayer may elect that the deduction for the taxation year be the lesser of (a) $100; and (b) the amount received by him in the taxation year from the sale of mineral.
Income Tax Regulations — 5
5 In this Schedule, residual value means the estimated value of the property if all commercially mineable material were removed.
Income Tax Regulations — 1
1 For the purposes of paragraph 1100(1)(e), the amount that may be deducted in computing the income of a taxpayer for a taxation year in respect of the capital cost to him of a property, other than a timber resource property, that is a timber limit or a right to cut timber from a limit is the lesser of (a) the aggregate of (i) an amount computed on the basis of a rate (determined under section 2 or 3 of this Schedule) per cord, board foot or cubic metre cut in the year, and (ii) the lesser of (A) 1/10 of the amount expended by the taxpayer after the commencement of his 1949 taxation year that is included in the capital cost to him 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 (B) the amount expended as described in clause (A) minus the aggregate of amounts deducted under this subparagraph in computing the income of the taxpayer in previous years; and (b) the undepreciated capital cost to the taxpayer as of the end of the year (before making any deduction under section 1100 for the year) of the timber limit or right.