Income Tax Regulations — (a)
Property (other than property included in Class 41 solely because of paragraph (c) or (d) of that Class or property included in Class 47 because of paragraph (b) of that Class) that would otherwise be included in another class in this Schedule (a) that is property manufactured by the taxpayer, the manufacture of which was completed by him after May 8, 1972, or other property acquired by the taxpayer after May 8, 1972, (i) to be used directly or indirectly by him in Canada primarily in the manufacturing or processing of goods for sale or lease, or (ii) to be leased, in the ordinary course of carrying on a business in Canada of the taxpayer, to a lessee who can reasonably be expected to use, directly or indirectly, the property in Canada primarily in Canadian field processing carried on by the lessee or in the manufacturing or processing by the lessee of goods for sale or lease, if the taxpayer is a corporation whose principal business is (A) leasing property, (B) manufacturing property that it sells or leases, (C) the lending of money, (D) the purchasing of conditional sales contracts, accounts receivable, bills of sale, chattel mortgages, bills of exchange or other obligations representing part or all of the sale price of merchandise or services, or (E) selling or servicing a type of property that it also leases, or any combination thereof, unless use of the property by the lessee commenced before May 9, 1972; (b) that is (i) property that, but for this class, would be included in Class 8, except railway rolling stock or a property described in paragraph (j) of Class 8, (ii) an oil or water storage tank, (iii) a powered industrial lift truck, (iv) electrical generating equipment described in Class 9, (v) property that is described in paragraph (b) or (f) of Class 10, or (vi) property that would be described in paragraph (f) of Class 10 if the portion of that paragraph before subparagraph (i) read as follows: “(f) general-purpose electronic data processing equipment and systems software for that equipment, including ancillary data processing equipment, acquired after March 18, 2007 and before January 28, 2009, but not including property that is principally or is used principally as”; and (c) that is property acquired by the taxpayer (i) before 1988, (ii) before 1990 (A) pursuant to an obligation in writing entered into by the taxpayer before June 18, 1987, (B) that was under construction by or on behalf of the taxpayer on June 18, 1987, or (C) that is machinery or equipment that is a fixed and integral part of a building, structure, plant facility or other property that was under construction by or on behalf of the taxpayer on June 18, 1987, or (iii) after March 18, 2007 and before 2016 if the property is machinery, or equipment, (A) that would be described in paragraph (a) if subparagraph (a)(ii) were read without reference to “in Canadian field processing carried on by the lessee or,”, and (B) that is described in any of subparagraphs (b)(i) to (iii) and (vi). [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/90-22, s. 19; SOR/94-686, ss. 46(F), 66(F); SOR/99-179, s. 14; SOR/2009-115, s. 5; SOR/2009-126, s. 8; 2011, c. 24, s. 100; 2013, c. 33, s. 40