Income Tax Act — I-3.3 127.491
al cost of the leasehold interest in the property to the entity is deemed to be its capital cost of the property; and (c) the property is deemed to be disposed of by the entity when it ceases to hold the leasehold interest in the property for proceeds of disposition equal to the fair market value of the property at the time it ceases to hold the leasehold interest. Amount payable (5) Any amount payable by a qualifying entity under this section is deemed to be payable as a tax or as a payment in lieu of tax, as the case may be. Time limit for application (6) If the qualifying entity files with the Minister the prescribed form containing prescribed information referred to in subsection (2) after its filing-due date for the year but on or before the later of the day that is one year after that date and December 31, 2026, subsection (2) applies to the entity except that no payment is deemed to arise under that subsection until the prescribed form containing prescribed information has been filed with the Minister. Time of acquisition (7) For the purpose of this section, clean electricity property is deemed not to have been acquired by a qualifying entity before the property is considered to have become available for use by the entity, determined without reference to paragraphs 13(27)(c) and (28)(d). Qualified natural gas energy system evaluation (8) The Minister of Natural Resources may request from a qualifying entity all documentation and information necessary for the Minister of Natural Resources to complete a qualified natural gas energy system evaluation, including a system plan, and may refuse to complete the evaluation if such documentation or information is not provided by the entity. Special rules — adjustments (9) For the purpose of the definition clean electricity investment tax credit in subsection (1), the capital cost of a clean electricity property to a qualifying entity shall (a) not include any amount (i) in respect of which an amount was previously deducted under this section by any person, (ii) in respect of which any other clean economy tax credit (as defined in subsection 127.47(1)) was deducted by any person, (iii) that has, by virtue of section 21, been added to the cost of a property, (iv) in respect of a qualified natural gas energy system, if a CCUS tax credit (as defined in subsection 127.44(1)) was deducted by any person in respect of any property that is part of the system, (v) in respect of an expenditure incurred for a preliminary work activity, or (vi) if a CCUS tax credit (as defined in subsection 127.44(1)) or a clean hydrogen tax credit (as defined in subsection 127.48(1)) was deducted in respect of any part of the capital cost of the property by any person; (b) be determined without reference to subsections 13(7.‍1) and (7.‍4); (c) be reduced by the total of all amounts (other than an amount received or receivable from an entity that is described in paragraph (g) or (h) of the definition qualifying corporation in subsection (1)) each of which can reasonably be considered to be in respect of the property and is (i) an amount of any government assistance or non-government assistance received by the qualifying entity in or before the taxation year in which the property was acquired, or (ii) an amount not described in subparagraph (i) that, in the taxation year, the qualifying entity is entitled to or can reasonably be expected to receive and that would be government assistance or non-government assistance if it were received by the entity; and (d) be determined with reference to subsections 127(11.‍6) to (11.‍8) in respect of an expenditure or cost to a person except that (i) the reference in subsection 127(11.‍6) to subsection 127(11.‍5) is to be read as a reference to section 127.‍491, (ii) the reference in subsection 127(11.‍6) to subsection 127(26) is to be read as a reference to subsection 127.‍491(14), and (iii) the term “a qualified expenditure” is to be read as “an expenditure eligible to be