Income Tax Regulations — 1101
operty of a taxpayer described in Class 36 in Schedule II. Leasehold Interest in Real Properties (5h) For the purposes of this Part, where more than one property of a taxpayer is described in the same class in Schedule II and where (a) one of the properties is a leasehold interest in real property described in subsection 1100(13), and (b) one of the properties is a property other than a leasehold interest in real property described in subsection 1100(13), a separate class is hereby prescribed for properties that (c) are described in paragraph (a); and (d) would otherwise be included in the class. Pipelines (5i) A separate class is hereby prescribed for each property of a taxpayer described in Class 2 in Schedule II that is (a) a pipeline the construction of which was commenced after 1984 and completed after September 1, 1985 and the capital cost of which to the taxpayer is not less than $10,000,000, (b) a pipeline that has been extended or converted where the extension or conversion was completed after September 1, 1985 and the capital cost to the taxpayer of the extension or the cost to him of the conversion, as the case may be, is not less than $10,000,000, or (c) a pipeline that has been extended and converted as part of a single program of extension and conversion of the pipeline where the program was completed after September 1, 1985 and the aggregate of the capital cost to the taxpayer of the extension and the cost to him of the conversion is not less than $10,000,000, and in respect of which the taxpayer has, by letter attached to the return of his income filed with the Minister in accordance with section 150 of the Act for the taxation year in which the construction, extension, conversion or program, as the case may be, was completed, elected that this subsection apply. (5j) An election under subsection (5i), (5l) or (5o) shall be effective from the first day of the taxation year in respect of which the election is made and shall continue to be effective for all subsequent taxation years. Certified Productions (5k) A separate class is hereby prescribed for all property of a taxpayer included in Class 10 of Schedule II by reason of paragraph (w) thereof. Canadian Film or Video Production (5k.1) A separate class is hereby prescribed for all property of a corporation included in Class 10 in Schedule II because of paragraph (x) of that Class that is property (a) in respect of which the corporation is deemed under subsection 125.4(3) of the Act to have paid an amount on account of its tax payable under Part I of the Act for a taxation year; or (b) acquired by the corporation from another corporation where (i) the other corporation is deemed under subsection 125.4(3) of the Act to have paid an amount on account of its tax payable under Part I of the Act for a taxation year in respect of the property, and (ii) the corporations were related to each other throughout the period that began when the other corporation first incurred a qualified labour expenditure (as defined in subsection 125.4(1) of the Act) in respect of the property and ended when the other corporation disposed of the property to the corporation. Class 38 — Property and Outdoor Advertising Signs (51) A separate class is hereby prescribed for each property of a taxpayer described in Class 38 in Schedule II or in paragraph (1) of Class 8 in Schedule II 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 was acquired, elected that this subsection apply. Specified Energy Property (5m) Where, for any taxation year, a property of a taxpayer or partnership is a specified energy property, a separate class is prescribed in 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